UMEA, Sweden—Codemill has announced that it is in the process of acquiring Cantemo AB, the developers of Cantemo Portal, a media asset management (MAM) software.
Terms of the deal, which comes as Codemill is gearing up for an IPO onto the Nasdaq First North Growth Market in mid-June, were not disclosed.
The companies noted that Codemill, which was founded in 2007, began working with Cantemo early in its history. "Through a number of joint client projects, it very quickly became apparent that Cantemo Portal is a great product that is meeting an important need in the industry – to manage media in a flexible and scalable way,” noted Rickard Lönneborg, CEO, Codemill in a post.
The companies also stressed that Cantemo Portal is highly complementary to Codemill’s Accurate.Video and Accurate Player SDK and that the deal would allow tighter integration of the products as well as continued development of the Cantemo Portal.
When the deal is completed, Cantemo CTO, Martin Fellbrink will remain as CTO, along with the Cantemo product development team.
Codemill works with such companies as ViacomCBS, A+E, ITV, ProSiebenSat.1, the BBC and others.
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