32 TVBEurope Feature Familiarity breeds success
Mark Errington, CEO at BroadStream Solutions, talks to TVBEurope about the company’s recent acquisition of automated playout specialist OASYS, and how the deal will enhance the strategies of both entities
Mark Errington, CEO, BroadStream Solutions
You mention in the offi cial dispatches from the deal that “the broadcast industry is undergoing a transformation, spurred by consolidation in the market sector”. What kind of impact is the recent and continuing M&A activity having on the industry, and do you think we are likely to see more deals in and around IBC?
The consolidation of two businesses into one inevitably reduces the number of suppliers in the market, but being a specialist in a single country or region no longer makes any sense in today’s landscape. The interest of IT companies and the infrastructure providers is adding a new dimension to the transformation of the broadcast technology marketplace. As such, I would not be surprised to not only see more deals in and around IBC, but to see an increase in deals that bring together media- centric organisations.
“The
How long has this deal been in the making – from establishing the intent to acquire, to completion of the deal? The fi rst conversations about setting up BroadStream were at NAB 2013. The contracts put in place at that time allowed for the option of exercising an acquisition at any time from July 2014, however, it was clear by early this year that it made sense to move ahead earlier and, after revised terms were agreed, it took only around eigh t weeks to conclude all the contracts.
What specifi c qualities marked OASYS out as the right acquisition target for BroadStream in terms of the strategic fi t between the two entities?
BroadStream Solutions and OASYS were already under common ownership and having set up the company infrastructure the time was right to bring the organisations, and most importantly the
Intellectual Property of the companies, together. The deal is about combining these companies with a fully funded business plan to better approach the global market, taking BroadStream Solutions into more countries outside of North America, and to better position the multi-award winning OASYS products in the US.
How will this deal assist both companies in their strategy going forward?
Now BroadStream and OASYS have joined forces, we are well placed to ensure that our customers gain maximum ROI, with better long-term fl exibility of products, that can be reconfi gured as channel requirements and workfl ows change.
How important is the cultural fi t? Having been under common ownership, are there synergies in the way the companies think, operate and perform?
The businesses have similar operational structures and cultures, which meant they were a perfect fi t to combine under a global holding company, with regional sales and support offi ces servicing customers locally. Together, they will offer the complete range of playout solutions for news, live production, turnaround operations and master control, while BroadStream will continue to develop and improve the functionality of all the existing product lines, based on a standardised hardware platform that has the fl exibility to be confi gured for all channel types.
interest of IT companies and the infrastructure providers is adding a new dimension to the transformation of the broadcast technology marketplace”
consumed into the new entity with no reduction in manpower on either side?
At this stage, what can you tell us about the integration of OASYS into the BroadStream business – is it the case that OASYS and its staff will be
The company is in the process of recruiting for a range of positions, including the recent appointments of Ben Wolk as President Sales and Marketing and Michael Edwards as VP Sales EMEA and Asia. Contrary to redundancies, all the current OASYS team are retained in the new organisation.
As you say, it’s an industry in the grip of transformation in a number of areas encompassing technology, consumption habits and demand, and the composition of the business landscape through consolidation and new entrants to market. What are your views on how the industry will progress in the short to mid-term future as it grapples with the new digital landscape? A lot of technology and activity in the broadcast industry is still based in-country, with a lot of vested interests and investment still needing to be recouped. As business models evolve, the discussions around who pays for what content, delivered to what devices, will inevitably settle down so that programme makers and media companies get their fair share. Having said that, I still expect to see a number of attempted land-grabs in the short to mid-term as the battle for ‘eyeballs’ is an on-going part of our daily lives.
www.tvbeurope.com August 2014
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