Broadband solutions provider BroadStream Solutions has acquired UK-based playout specialist Oasys.
The pair were already under common ownership and the acquisition will bring the intellectual property of both companies together after a period when the pair have worked to set up a common infrastructure.
According to Oasys, the two companies’ owners have chosen to combine all of the operations under a global holding company, with regional sales and support offices servicing customers locally, offering the complete 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, according to the company. Owners Mark Errington and Herbert Brenninkmeijer will remain as senior leaders within the business, with Errington taking the role of CEO at BroadStream Solutions and Brenninkmeijer remaining chairman of the board.
“The acquisition is great news for both Oasys and BroadStream customers who now have access to a wider range of products. 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,” said Errington.
“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.”