Quantel Acquires Snell: Deal Unites Two Broadcast and Media Tech Developers
The two companies have combined revenues of $170 million.
Postproduction and broadcaster technology developer Quantel has acquired Snell, which creates technology for broadcast production and the management and distribution of web content. The terms of the deal between the two UK-headquartered companies was not disclosed.
With the acquisition -- which comes just week’s before the annual NAB Show -- Quantel plans to offer a "complete product range to create, version and deliver high quality content efficiently across multiple platforms.” Quantel’s technologies include its Pablo and Pablo Rio 4K postproduction systems; Snell’s lines include the Alchemist Ph.C-HD standards converter. The two companies have combined revenues of $170 million.
"Our product ranges are entirely complementary so the excellent Snell and Quantel brands and product ranges will continue,” said Ray Cross, executive chairman and CEO of Quantel, in a statement. "We'll be able to combine the best in class talent and technologies from Quantel and Snell to bring exciting new products to market to help our customers transform their businesses. More local offices across the world will enable us to build closer relationships with our customers and to offer even better support."
Paul Martin, managing director of the Snell TV Everywhere division; and Robert Rowe, managing director of the Snell Live TV division, will join the Quantel board. Tim Banks, Snell sales director; and Peter Fredericks, Snell finance director, are also “taking leading roles” at Quantel.
Said outgoing Snell CEO Simon Derry in a statement: "I'm really delighted that the Snell and Quantel businesses have come together to increase the scale and scope for both. I look forward to supporting Ray during the important period of transition."
HOLLYWOOD'S RED CARPET A-LIST
- Leonardo DiCaprio's Climate Summit Speech: 'We Only Get One Planet' - Watch Video & Read the Transcript!
- Prince Harry Gets a Big Hug From a Sick Child, Celebrates Courageous Children at the WellChild Awards
- Naya Rivera, Heather Morris, & Dianna Agron are 'Glee' Cheerleaders Once Again!
- David Beckham is a Game Changer for Another Man's Latest Issue