The two companies have worked together for a number of years, with PLAY integrating Veset Nimbus into its own KRONOS cloud playout service for the Japanese market.
Cloud playout solutions company Veset has been acquired for an undisclosed sum by Japan’s PLAY, and will operate as a wholly-owned subsidiary.
Veset’s playout solutions enable broadcasters to originate and manage linear channels entirely in the cloud. Its Veset Nimbus features a spectrum of all-in-one channel creation tools for advanced linear TV channel management, and the company works with a wide range of broadcasters, service providers, and technology partners across the world.
Veset’s founder and former CTO Gatis Gailis has been appointed CEO of the new subsidiary. Speaking about the deal he said, “Having worked with PLAY for a number of years, we already knew that there are a lot of synergies between our two companies, including a shared mission to enable digital transformation in the media and entertainment industry. This acquisition will help us to further develop our offerings and scale our company, especially increasing our presence across Asia.”
Kazumichi Kuroda, CEO, PLAY, added: “At PLAY we place a great deal of emphasis on the value that can be delivered to viewers. Achieving that means focusing on creating high-quality services that push the boundaries of innovation. Over the past years of working with Veset, we have been impressed, not just by the technology but also by the entire team that shares the same values as us. I am certain this will be a beneficial move, not only for the two companies, but also for our shared customers and ultimately their viewers.”
Veset added it will be announcing further updates and features for its Nimbus solution in the coming weeks and months.
