MAC acts as strategic advisors on Cavena's sale to Edgeware

Media Asset Capital acts as strategic advisors on Broadstream’s acquisition of Screen Subtitling

Media Asset Capital instrumental in development of new transmission playout centre at Scottish TV

MAC provides due diligence support for Caledonia's acquisition of Cooke Optics

Media Asset Capital brokers the sale of Dubai-based Systems Integrator TSL FZ to Diversified

Media Asset Capital helps three UK Public Service Broadcasters with technology and services strategy

MAC research shows huge diversity of European broadcast languages, with 61 languages across the EU and Turkey

Media Asset Capital acts as strategic advisor on Masstech SGL merger


Media Asset Capital announces the sale of Swedish subtitling expert Cavena Image Products AB to Edgeware, a global high-tech company that develops and offers products that enable high-quality TV and video streaming.

Cavena has successfully been supplying solutions to the broadcasting market for more than 20 years and is a market leader in the area of subtitling. Cavena’s customers include Sky, Canal+ and HBO Asia. Integrating subtitling technology into Edgeware’s origin solution will enable broadcasters to build a higher-value origin system that can enable personalised advertising, support any type of device, and now automate the subtitling process.

“Our growing numbers of broadcaster customers are demanding the highest quality from their OTT services. We already work alongside Cavena’s systems in some of our largest deployments, such as myTV SUPER in Hong Kong,” said Karl Thedéen, CEO at Edgeware, “so it makes sense for us to offer a more integrated solution to those broadcasters, and to further enhance our origin solution, which is generating a lot of interest. It also gives us the opportunity to introduce our respective technologies to each other’s customers.”

Edgeware will acquire 100% of the shares in Cavena Image Products AB, for 8 million SEK on a cash and debt free basis. The acquisition will only have a minor impact on Edgeware’s 2019 forecasted revenues and profitability but will have more strategic impact over the longer term, enabling Edgeware to offer a broader set of products into broadcasters and content owners OTT service. Edgeware also expects to benefit from some operational synergies between the two companies, which are both based in Stockholm, Sweden.

The deal is expected to close during Q1 2019.



Media Asset Capital is delighted to announce that Automated playout company BroadStream has agreed to acquire Screen Subtitling Systems, Ltd. Media Asset Capital were strategic advisors for the transaction.

The deal will see BroadStream integrate Screen Systems’ subtitling products into their integrated playout platform OASYS.

Speaking about the acquisition, Herbert Brenninkmeijer, chairman and owner of BroadStream, said: “We are delighted to include Screen Systems as part of the BroadStream family. We have experienced phenomenal organic growth over the last few years, and it has been my desire to further foster both our continued growth and our position as a 'solutions oriented company' with targeted acquisitions that complement our integrated playout products from strategic partners that offer significant benefits for our global customer base.”

Gary Glover, managing director of Screen Systems added, “This is an exciting opportunity for both companies as many of our customers have requested a playout solution from Screen that provides all the features they need for playout and also delivers a tight integration with our subtitling and value-add products, so this is a big step in the right direction for Screen and we welcome this opportunity to work more closely with BroadStream and their flagship product OASYS Integrated Playout”.



Scottish TV’s new playout centre, at its Glasgow Pacific Quay headquarters, has gone live to air providing content to all STV’s regions.

Media Asset Capital was instrumental in the design and technology selection, creating RFPs for automation and supporting equipment.

MAC worked with STV management to define the broadcast technology strategy, and then with the operations and engineering teams to develop the technology and workflow models.

Jacqui Finnerty, Director of Broadcast Technology & Operations at STV said: “MAC provided STV with a rare combination of strategy and deep technical and broadcast operational experience. They have worked in this industry for several decades and understand the challenges and issues facing broadcasters.”

The new playout centre utilises SAM automation, and a MAM solution developed in house by STV, and based on Vidispine.



UK lens manufacturer Cooke Optics has been acquired by investment trust Caledonia Investments in a deal which values the business at £96.5m.

Caledonia has acquired a majority stake in Cooke, which is based in Leicester. The deal sees Caledonia subscribe £62.5m of equity and £30m of debt to acquire approximately 89% of Cooke from its current owners, Growth Capital Partners and Cooke’s management team.

The management team have reinvested £7.8m of their sales proceeds for the remaining equity.

The current Cooke Optics management team, including chairman Les Zellan, CEO Robert Howard and COO Alan Merrills remain in place.

Cooke says day-to-day activities at the Leicester-based company will continue unchanged, and that the investment will allow faster company growth and the development of new lenses.

Media Asset Capital worked with CIL Management Consultants to provide market due diligence to support the transaction.



Less than three weeks after announcing its plans to acquire Digitavia and establish an official presence in Europe, Diversified has announced it will have a Middle East office through the acquisition of TSL FZ in Dubai Studio City.

“We are thrilled by the tremendous opportunity for growth in the region,” said Diversified founder and CEO Fred D’Alessandro.

“Our aim is to have a world-class Middle East team, working with the most diverse, advanced and experienced engineering team across the globe to better serve our client’s growing demands,” he said.

TSL FZ CTO Suhail Ahmed said company officials are “very excited at the prospect of joining Diversified. We share the same engineering-centric approach to every solution. With Diversified’s scale and wide range of services and support, we can build upon our longstanding client relationships."

“Diversified’s financial strength will enable us to grow the regional operations and provide our full portfolio of technology solutions sets,” added Kevin Collins, Diversified president and COO.

All 10 divisional specialties and solution sets will be offered with emphasis on media and entertainment, digital signage and managed services, advanced visual environments and display as well as intelligent technology solutions around IT networks network security and data centers.



Over recent months, MAC has been busy working with three of the UK’s most recognised public broadcasters to help them define and implement their technology and services strategy for 2020 and beyond.

One of these projects involved the design of a new playout and MAM environment, to enable the broadcaster to take advantage of new technologies and working practices, in order to improve their on screen presence on both linear and online.

MAC was engaged to evaluate technology solutions, design new workflows and help select, through a rigorous RFP process, the right vendor partners and technologies to suit the broadcaster’s insource operating model.

The other two projects saw MAC assisting broadcasters with outsourcing requirements for broadcast operations. This involved strategy development, workflow design and the creation of a set of RFPs for service providers to bid against.

Jeremy Bancroft, Director of MAC stated: “These three projects with prestigious UK broadcasters have been some of the most interesting we have done to date. They have all involved an element of change management, as well as technology selection, in order to make the broadcasters more efficient and to improve their online operations.”



Research from TVT Media, the new global content services powerhouse, shows that 61 languages are broadcast across the European Union and Turkey, highlighting the linguistic diversity within a television market of 600 million people. The research, commissioned by TVT and conducted by Media Asset Capital, reveals France is clearly the king of multilingual content in Europe’s TV markets, with 18 languages available across its 567 channels – including Arabic, Mandarin, Khmer, Turkish, Armenian, Romani and Tamil.

The research was used to create a Media Map showing the secondary broadcast languages in each nation (excluding official native languages and English) – the first in a series of European Media Maps that illustrate the increasingly diverse and complex nature of the European TV market.

The research shows that English is the most broadcast language in Europe and the most common second TV language in European countries, accounting for 792 of the 8,236 linear channels in the EU and Turkey. Other major European broadcasting languages include German (749 channels), French (600), Spanish, Turkish and Italian (over 500 each). The most common non-European language is Arabic (64 channles), followed by Hindi (23), Mandarin (15), Urdu (15), Persian (12), Bengali (11) and Kurdish (10).

Key findings include:

  • The United Kingdom is Europe’s second most diverse market, with 15 languages across 568 channels – including Welsh and Scottish Gaelic – being broadcast. But the biggest UK broadcast languages other than English are the major languages of India (Hindi, Urdu, Bengali, Tamil and Punjabi), which account for 62 channels.
  • Germany is another diverse market and has channels broadcasting in 11 languages, with Turkish the biggest non-native language – while others include Russian, Polish, Greek, Japanese, Mandarin and Persian.
  • Spain, despite having the highest total of linear channels of any country in the EU (686), only has TV in five languages other than Spanish – of which only two are non-native (English and Portuguese) – making it one of the least diverse markets.
  • Although the Russian TV market is not captured by the research, Russian is the 17th most broadcast language across other European markets with 135 channels – and still dominates a number of former Soviet Republics, such as Estonia and Latvia, where it is more widely broadcast than the official native languages.



Media Asset Capital (MAC) is delighted to announce the merger of UK-based SGL and Canadian headquartered Masstech to create Masstech Innovations Inc., which will have global scale and will manage a substantial portion of the world’s digital assets in broadcast news and production.

MAC acted as investment advisor to both Masstech and SGL in a complex transaction that was fully funded by FPE Capital, the leading UK growth capital investor.

Llewellyn John, Partner at FPE, commented: "We are delighted with these two investments and the value and growth prospects that can be achieved by combining them. We see a strong strategic fit in the merging of Masstech and SGL, both companies with a strong reputation for their solutions in this growth market, to create global scale and improved product functionality for customers.

Commenting on the transaction, MAC CEO Neil MacTaggart stated: “This was a unique opportunity to create a single entity that would leverage the expertise of both companies, their development teams and their channel partners. Both Masstech and SGL have their own relative strengths, and the new, combined operation will be much stronger than simply the sum of the two businesses.”

Graham Sharp, MAC Director and Head of MAC’s North American operation underlined the strategic input that MAC provided to this transaction: “We worked very closely with the management teams and owners of both companies in order to bring about a solution that was best for the businesses, their investors and their customers. Our unique combination of commercial and technology skills meant that we saw how both the business, their products and their development roadmaps could be aligned to create a world class company with huge potential for growth.”

With operations in both the UK and North America, MAC was ideally placed to work with both companies over an extended period of time to bring about this transaction.

Joe French, Masstech CEO, signs the agreement after an exhausting negotiation