TORONTO & FAREHAM, ENGLAND—Masstech and Software Generation Ltd. (SGL) are joining forces to form a new company, Masstech Innovations. This new endeavor will serve the broadcast and media industry as a provider of technology for the management of media assets, per the official announcement.
Left to right: SGL co-founder Bernie Walsh, Masstech President and CEO Joe French, and SGL co-founders Paul Moran and Dave Bray.
Masstech President and CEO Joe French has taken an increased ownership position and will run the combined business from the U.K. headquarters. SGL founders and directors Bernie Walsh, Dave Bray and Paul Moran will eventually retire after a period of consulting with the combined entity. FPE Capital will be the majority shareholder in the new company.
“The merger provides us with an opportunity to grow and develop solutions, particularly on-ramps to the cloud and managed services, faster than we could have done as two smaller independent companies,” French explained.
Financial terms of this deal have not been disclosed.