Thought Equity Finds Missing Piece with Panvidea Acquisition
Thought Equity Motion announced that it has acquired Panvidea today, and gained a valuable distribution arm in the process.
The move shows that Thought Equity is continuing its quick growth in the online video space and is intent on solidifying its role with entertainment companies. Recently best known for providing online video platforms and footage licensing services for sports properties, such as NCAA Digital, the company broadened its base when it began offering metadata management for Sony Pictures Entertainment this spring.
Not even a month ago, the Denver, Colorado-based Thought Equity raised $25 million in funding from Shamrock Capital Investors. Now it looks like some of that money -- neither company will disclose the terms -- went to acquiring Panvidea, which had been based in New York City.
Panvidea specializes in video preparation, processing, packaging, and delivery, all crucial for Thought Equity as it strengthens its cloud-based distribution services, allowing it to stream long-form entertainment at scale.
As part of the acquisition, Chris Cali, Panvidea's CEO and co-founder, will join Though Equity as vice president of platform technologies, relocating to Denver.
"I'm excited to be joining Thought Equity Motion at this key point in its growth," says Cali. "The company has great traction with its large-scale video management platform and the integration of Panvidea's toolset will accelerate our ability to serve the distribution needs of the world's leading media companies."
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