Joseph O'Halloran | 05-09-2013
Multi-platform video services firm Saffron Digital has been acquired by entertainment industry service provider Cinram.
Toronto-based Cinram, itself acquired by Najafi Companies earlier in 2013, claims to be one of the largest global manufacturers and distributors of Blu-rays, DVDs and CDs for the motion picture studios, record labels and game publishers. It also provides digital and creative services through its Los Angeles-based digital media agency, 1K Studios, known for its work in digital book and app development, enhanced user experience and consumer engagement.
The acquisition of Saffron Digital from HTC in a deal worth $47 million is said to complements the current portfolio companies of 1K Studios and Cinram by providing a complete physical to digital delivery platform. Indeed Cinram regards Saffron cloud-based digital content delivery and usage as industry-leading and believes that ownership of such assets will add further depth to its entertainment related investments and holdings. In May 2013, leading Japanese mobile carrier KDDI has extended its reach into the home with the launch of its Video Pass premium video-on-demand (VOD) service enabled by Saffron technology.
“We are excited to welcome Saffron Digital into the Cinram group of companies,” said Cinram CEO Steve Brown, commenting on the deal. “In the field of digital rights management, Saffron Digital has led the way, delivering a superior viewing experience across the spectrum of online devices. This acquisition enables Cinram to build on its reputation as a complete end-to-end supply chain provider to the entertainment industry within the digital, as well as physical space.”
“Being part of such a successful international entertainment company like Cinram is a great move for Saffron Digital,” commented Jason Keane, Saffron digital president. “It will enable us to significantly scale our existing digital business and build a unique premium content delivery platform that works seamlessly from physical through digital to the end user.” Saffron Digital is a great fit within Cinram’s growing digital ecosystem and this acquisition will compliment both companies nicely as well as the needs of our industry.”