SintecMedia Acquires StorerTVThe deal will allow SintecMedia to further expand its U.S. presence and product lines 1/09/2013 07:57:39 PM Eastern
In another sign of consolidation in the TV technology sector, broadcast management software provider SintecMedia has acquired StorerTV, which supplies media program and contract rights management software systems for broadcast and cable.
Terms of the deal weren't disclosed.
"The opportunity to acquire StorerTV, one of the industry's most recognized names in the United States, bolsters SintecMedia's North American presence," SintecMedia CEO Amotz Yarden noted in a statement. "The acquisition enables us to extend our product line and effectively makes SintecMedia one of the most powerful vendors in the global media business solutions market."
The deal will also allow for tight integration between the two companies products, including SintecMedia's OnAir broadcast management solution and StorerTV's SIMS platform.
Yarden ended by saying, "We welcome the StorerTV team to the SintecMedia family. With over 100 professionals including developers, implementation and support staff, the SintecMedia US team is ready to meet the robust requirements of the US market."
"Merging with SintecMedia will maintain the intellectual leadership that has been fundamental to our growth and success," added StorerTV COO Jay Batista in a statement. "We could not find a better partner to lead our technologies for the next 25 years."