The deal should conincide with Codemill’s planned mid-June IPO.
Codemill has agreed a deal to acquire Cantemo, the developer of Cantemo Portal Media Asset Management (MAM) software.
The closing of the deal should coincide with Codemill’s IPO on to the Nasdaq First North Growth Market, planned for mid-June. The product development team will join Codemill, but Cantemo’s leadership and shareholders will now focus solely on iconik.
Once completed, the agreement will mean Cantemo’s Portal technology can be integrated with Codemill’s Accurate.Video product. Cantemo Portal is a scalable and modular MAM solution that provides search and playback. It can be integrated with third-party tools, enabling users to continue to work with their files while Portal takes care of metadata management in the background.
Meanwhile, Accurate.Video is a web-based video platform created for broadcast, post-production and media. It can be integrated with existing tools and storage to create a seamless media production workflow. Accurate Player SDK is a web-based framework that can be adapted and integrated into an existing workflow within minutes.
Parham Azimi, co-founder and outgoing CEO, Cantemo and CEO, iconik, said: “When we launched Cantemo, we invested all our time and energy into creating a leading product and world-class team. Now it is time for us to step down and focus on the next chapter in the form of iconik. With its deep knowledge of Portal software, combined with its world leading expertise in custom software development for advanced media workflows, we cannot see a better owner of the company than our friends at Codemill.”
Rickard Lönneborg, CEO, Codemill, added: “I’m delighted that Cantemo is to become part of the Codemill family. We have worked closely with Parham and his team for many years, successfully developing and supporting Portal systems for leading Media & Entertainment companies all over the world. Together with our Accurate.Video software and Accurate Player SDK, we have highly complementary solutions, which together with Portal - offer even more building blocks to our clients, for custom Media Asset Management and content supply chain workflows”.