Veset acquired by Japan’s PLAY

Gatis Gailis and Kazumichi_Kuroda

Technology outfit Veset has been acquired by Japanese media technology company PLAY for an undisclosed sum.

Veset said it will operate as a wholly-owned subsidiary of PLAY and continue to develop solutions for cloud playout and channel management.

The Latvia-based company’s all-in-one platforms provide for the creation and management of professional linear channels entirely in the cloud. Channels can be distributed to multiple platforms, including traditional broadcast, over-the-top and social media channels.

Veset have previously worked with PLAY and had already integrated Veset Nimbus into its own KRONOS cloud playout service for the Japanese market.

The Japanese outfit uses video distribution technology and a wide range of associated services to promote digital transformation in the media, content, and enterprise fields.

Gatis Gailis, who has been appointed CEO of Veset following the acquisition, said: “having worked with PLAY for a number of years, we already knew that there are a lot of synergies between our two companies, including a shared mission to enable digital transformation in the media and entertainment industry. This acquisition will help us to further develop our offerings and scale our company, especially increasing our presence across Asia.”

“At PLAY we place a great deal of emphasis on the value that can be delivered to viewers. Achieving that means focusing on creating high-quality services that push the boundaries of innovation,” added PLAY’s CEO Kazumichi Kuroda. “Over the past years of working with Veset, we have been impressed, not just by the technology but also by the entire team that shares the same values as us. I am certain this will be a beneficial move, not only for the two companies, but also for our shared customers and ultimately their viewers.”