Fareham-based content archive and storage management firm SGL has been bought by FPE Capital and merged with Canada’s Masstech.
SGL is the company behind the FlashNet storage product while Masstech develops software applications for media asset management, newsrooms, archiving and disaster recovery.
The merged company will be known as Masstech Innovation. Financial terms of the deal were not disclosed.
FPE Capital becomes the majority shareholder in the expanded company, with Masstech chief executive Joe French, who has a stake in the firm, running the combined business from the UK headquarters.
“The merger dramatically strengthens our business,” said French. “With over 600 active Blue Chip customers and 120 employees, we have the financial strength and the critical mass to provide the next generation media lifecycle management solutions and world-class support our customers are looking for.”
The engineering teams from both companies will continue to develop tools to automate media movement and transcoding workflows, he said.
SGL founders and directors Bernie Walsh, Dave Bray and Paul Moran will retire following a period of consulting. SGL employs 32 people.
“We wanted to entrust our rich history, technology and relationships to a company that shares our customer-driven focus and spirit of innovation,” said Walsh.
“Masstech’s values, culture and vision are a great fit for SGL’s customers, employees and solutions, and we’re confident that they will be great stewards to continue what we started.”
Media Asset Capital served as investment advisor for both Masstech and SGL.