Globecast buys Pacific Century Matrix
France Télécom’s subsidiary GlobeCast and Pacific Century Group have concluded a conditional agreement for the acquisition of Hong Kong-based broadcast services solutions company Pacific Century Matrix (HK) Limited (PCM).
PCM is owned by the Pacific Century Group, and was established in 1993 to handle content exchange for PCCW’s Network of the World (NOW) project. Pacific Century Group is owned by Richard Li. PCM, under its CEO Guenter Kring, uplinks channels for clients like Eurosport, MTV, Indus Vision and Russia Today.
At the end of the process, PCM will be renamed GlobeCast Hong Kong, and will become GlobeCast’s fifth office in Asia and the 18th worldwide.
“Thanks to the acquisition, PCM’s customers will have access to GlobeCast’s international network but will keep the people and expertise of PCM,” GlobeCast said.
The joint resources of the two companies notably include two technical platforms based in Singapore and Hong Kong.
Guenter Kring, PCM CEO added: “PCM is delighted to join the GlobeCast Group. We see a huge potential for developing new and beneficial services for our combined client base, while continuing to offer the same high-quality of service that our respective customers have come to expect.” Terms for the purchase were not revealed.
David Justin, Globecast Asia’s CEO, also welcomed the additional asset. “It will serve to dramatically increase the growth that GlobeCast has already been seeing in Asia for the past few years. PCM comes to us with a strong reputation and invaluable expertise, not to mention a service offering and culture that is very compatible with our own.”