Japanese media technology company Play acquired Latvia-based Veset, which will operate as a wholly owned subsidiary of Play and continue to develop solutions for cloud playout and channel management.
Play had already integrated Veset Nimbus into its own KRONOS cloud playout service for the Japanese market.
Veset’s playout solutions enable broadcasters to originate and manage professional linear channels in the cloud. Veset Nimbus features a spectrum of all-in-one channel creation tools for advanced linear TV channel management.
Gatis Gailis, co-founder and former CTO, has been appointed CEO following the acquisition. He commented: “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 of Play, added: “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.”