M&A: Broadstream acquires playout company OASYS
Broadstream has announced its acquisition of automated playout software technology company OASYS. Already under common ownership and having spent some time in setting up the infrastructure, the time was suitable to bring the organisations and Intellectual Property of the companies together.
The owners have chosen to combine all of the operations under a global holding company, with regional sales and support offices servicing customers locally, offering a range of playout solutions for News, Live Production, Turnaround Operations and Master Control.
The OASYS team will remain with the company and the company’s products will form a significant part of the product portfolio, becoming the basis of all playout innovation in the future. With both companies under the same brand name, BroadStream will strengthen its authority and expertise in playout workflow solutions.
Owners Mark Errington and Herbert Brenninkmeijer will remain as senior leaders within the business, with Errington adopting the role of CEO at BroadStream Solutions and Brenninkmeijer remaining Chairman of the Board. BroadStream is also making a series of additional appointments to support business growth and reinforce its ongoing strength and innovation in customer service.
Mark Errington CEO, BroadStream Solutions said, “The broadcast industry is undergoing a transformation, spurred by consolidation in the market sector, changes in customer consumption habits, spreading of advertising revenues, changing broadcaster budgets and rapidly updating technology. Now BroadStream and OASYS have joined forces, we are well placed to ensure that our customers gain maximum ROI, with better long-term flexibility of products, that can be reconfigured as channel requirements and workflows change.”