EditShare has entered into a definitive agreement to merge with Shift Media, with Shift Media’s product range – MediaSilo, Wiredrive, and Screeners.com – folding into the EditShare corporate brand.
This is an interesting one and the latest in the volley of M&A news that we're expecting surrounding IBC2023.
There's definite synergy here. EditShare’s high-performance workflow focused product suite includes EFS media optimized shared storage and FLOW intelligent media management. In 2022, the company launched EditShare FLEX built on AWS, ensuring professional production and post companies can build remote and collaborative workflows that suit their creative and commercial needs.
Shift Media’s cloud-native, software-as-a-service solutions, meanwhile, include MediaSilo, Wiredrive and Screeners.com. MediaSilo provides a video collaboration HQ; Wiredrive helps commercial production companies and agencies quickly and easily create custom pitch materials and showreels; and Screeners.com provides an industry standard virtual screening experience for press review and sales opportunities of high value pre-release content.
A PR states that the combination of EditShare and Shift Media will deliver a comprehensive, open solution that enables creative teams and content creators to seamlessly store, edit, collaborate, and share their content, whether they choose to work on-premise, in the cloud, or with a hybrid solution.
Ramu Potarazu, Shift Media’s CEO, will lead the combined company under the EditShare banner following the close of the transaction; current EditShare CEO Conrad Clemson will leave the business to pursue other opportunities. “EditShare and Shift Media are highly complementary businesses with market leading products and services and shared commitment to putting the power of video production in the hands of creators," says Potarazu. "As a combined company, we will create a one-stop shop with a more comprehensive range of products and global network of channel partners, enabling us to better meet our customer needs around the world."
ParkerGale Capital and Marlin Equity Partners, previous backers of EditShare and Shift, respectively (and more synergy there for sure) will maintain their positions as primary investors and board members of the combined company.