Cloud-based video platform Thought Equity Motion has acquiredPanvidea, bringing together two complimentary companies that are focused on streamlining digital video management, work flow and delivery. Thought Equity's CEO/founder Kevin Schaff and Panvidea's CEO/co-founder Chris Cali (who will become VP, Platform Technologies) briefed me on the deal.
The big picture here is that as digital delivery to multiple devices gains steam, the back-end processes of getting high value content quickly, securely and cost-effectively to the right places becomes critical. Distributing via tape with lots of manual steps involved isn't acceptable any longer. Kevin sees Panvidea's platform, which manages the full spectrum of video preparation (ingest, storage, customization, transcoding and delivery to multiple platforms/devices), as complimenting Thought Equity's platform which is focused on master file and archive management. Combining the capabilities is intended to give content providers a full end-to-end solution.
I've previously written about Panvidea, describing it a "post house in the cloud" that automated many of the non-craft processes, resulting in lower costs and higher flexibility. In particular, Kevin called out the combined operation's ability to now digitally deliver content to over 500 "destination profiles" (various TV networks, international distributors, devices, OTT providers, etc.) which each have their own specs. Chris noted that by being able to use both private and public clouds, Thought Equity will further optimize its services.
Terms of the deal were not disclosed. Panvidea's investors included Greycroft Partners and DFJ Gotham. Thought Equity raised $25 million last month.
(Note:Thought Equity Motion is a VideoNuze sponsor)
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