In a move that it says will bolster its playout offering, Miranda Technologies announced that it will acquire Softel, ad UK-based, provider of captioning and subtitling technology. Terms of the deal were not disclosed.
This is Miranda’s first acquisition since the company was purchased by Belden in 2012. At that time Belden executives said that they intended to use Miranda as a “platform” through which they could build a larger business in the broadcast industry through strategic M&A. Although this initial deal is a “bolt-on” to Miranda’s existing playout business, it offers evidence that Miranda will indeed continue to be a consolidator in the broadcast technology market.
According to Miranda President Marco Lopez, captioning is one of the areas of the playout chain that is often difficult to manage. “By introducing Softel’s technology into the Miranda portfolio and directly integrating it into our iTX solution, we’ll present broadcasters with further efficiencies, not only in the purchase process, but also during deployment and in post-sale support as well. Miranda will continue to support the full Softel solutions suite and honor all Softel partner agreements.”
“We’re certain our customers will benefit from the synergies this acquisition creates,” said Sam Pemberton, Softel’s CEO. “Being aligned with Miranda in the Belden family extends our reach into potential new markets and being part of this team allows us to focus on continuous innovation.”
Integration planning will be led by a team of Miranda and Softel executives, but there will be no business disruption for Miranda or Softel during the transition. The integration is expected to be complete by this summer.
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