In another important example of the ongoing consolidation of the broadcast technology business, two major U.K. tech vendors are combining their operations with the announcement that Quantel has acquired Snell.
Terms of the deal between the two U.K.-based companies were not disclosed. The companies, which have a combined revenue of about $170 million a year, plan to continue their two brands and product lines.
Quantel is a provider of news and sports production systems and high quality post.
The acquisition of Snell, which is a major provider of a wide array of TV-related technologies, will allow the combined companies to offer a complete range of products to “create, version and deliver high quality content efficiently across multiple platforms,” the two companies report.
"This acquisition brings two great companies together to create a major new force in the global broadcast and media technology market,” explained Ray Cross, executive chairman and CEO of Quantel in a statement. “This will enable us to better serve Quantel and Snell customers around the globe."
Cross also noted that "our product ranges are entirely complementary so the excellent Snell and Quantel brands and product ranges will continue. We'll be able to combine the best in class talent and technologies from Quantel and Snell to bring exciting new products and solutions 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 to make sure it is business as usual for Snell customers," continued Cross.
Tim Banks, Snell sales director and Peter Fredericks, Snell finance director, are also taking leading roles in the new combined organization.
"I'm really delighted that the Snell and Quantel businesses have come together to increase the scale and scope for both," said Simon Derry, outgoing CEO at Snell. "Under Ray's leadership the combined business will be able to write a new and exciting chapter moving forwards. I look forward to supporting Ray during the important period of transition."