NEWBURY and READING, ENGLAND—Quantel, a provider of news, sports and post production systems, announced today that it is acquiring Snell, a developer of broadcast and media technology targeting live TV production and the creation, management and distribution of content for TV everywhere, based in Reading. The combined companies have combined revenues of more than $170 million. The value of the transaction was not disclosed.
”There is no overlap in our product range so no need to change anything there,” Quantel’s acquisition page said. “We will be creating a new world-class facility in Newbury to produce the complete Quantel and Snell product range and look forward to an HQ buzzing with both Quantel and Snell staff.”
The Snell brand and products will continue and Paul Martin, managing director of the Snell TV Everywhere division and Robert Rowe, managing director of the Snell Live TV division will join the Quantel board. Tim Banks, Snell sales director and Peter Fredericks, Snell finance dDirector will also taking leading roles in the new Quantel and Snell organization. Simon Derry will stay on for several months to support the integration of the Snell and Quantel businesses, after which he will leave to pursue other interests.
Regional offices will be located in Australia, China, Japan, Hong Kong, India, Dubai, France, Germany, Spain, Russia, and in North America in New York, Los Angeles and Canada.
“This acquisition brings two great companies together to create a major new force in the global broadcast and media technology market. This will enable us to better serve Quantel and Snell customers around the globe,” said Ray Cross, executive chairman and CEO, Quantel. “Our product ranges are entirely complementary so the excellent Snell and Quantel brands and product ranges will continue. We'll be able to combine the best in class talent and technologies from Quantel and Snell to bring exciting new products and solutions to market to help our customers transform their businesses. More local offices across the world will enable us to build closer relationships with our customers and to offer even better support.”
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