Media Asset Capital announces the sale of Swedish subtitling expert Cavena Image Products AB to Edgeware, a global high-tech company that develops and offers products that enable high-quality TV and video streaming.
Cavena has successfully been supplying solutions to the broadcasting market for more than 20 years and is a market leader in the area of subtitling. Cavena’s customers include Sky, Canal+ and HBO Asia. Integrating subtitling technology into Edgeware’s origin solution will enable broadcasters to build a higher-value origin system that can enable personalised advertising, support any type of device, and now automate the subtitling process.
“Our growing numbers of broadcaster customers are demanding the highest quality from their OTT services. We already work alongside Cavena’s systems in some of our largest deployments, such as myTV SUPER in Hong Kong,” said Karl Thedéen, CEO at Edgeware, “so it makes sense for us to offer a more integrated solution to those broadcasters, and to further enhance our origin solution, which is generating a lot of interest. It also gives us the opportunity to introduce our respective technologies to each other’s customers.”
Edgeware will acquire 100% of the shares in Cavena Image Products AB, for 8 million SEK on a cash and debt free basis. The acquisition will only have a minor impact on Edgeware’s 2019 forecasted revenues and profitability but will have more strategic impact over the longer term, enabling Edgeware to offer a broader set of products into broadcasters and content owners OTT service. Edgeware also expects to benefit from some operational synergies between the two companies, which are both based in Stockholm, Sweden.
“Media Asset Capital assisted us with the sale of Cavena, competent and professional services with a minimum of corporate bla-bla. I do recommend them.” – Henrik Moberg, former CEO and partner of Cavena Image Products AB