Tuesday, April 23, 2024

EditShare to Merge with Shift Media

EditShare, the provider of solutions for collaborative media workflows, has unveiled a definitive agreement to merge with Shift Media, a cloud-native video solution provider specialising in aiding creators manage, present, and collaborate on high-value projects. The amalgamated entity will retain the name EditShare, incorporating Shift Media’s range of products – MediaSilo, Wiredrive, and Screeners.com – under the EditShare corporate umbrella.

In recent years, the global surge in video creation has spanned numerous sectors, including entertainment, advertising, corporate communications, higher education, and house of worship, among others. This boom in content production has been paralleled by a proliferation in video technology, presenting video professionals with an intricate array of tools and vendors to integrate for efficient operations. According to the two companies, the synergy of EditShare and Shift Media promises a holistic, open solution, equipping creative teams and content creators with the tools to effortlessly store, edit, collaborate, and disseminate their content, be it on-premise, cloud-based, or a hybrid of the two.

EditShare’s product suite, tailored for high-performance workflows, encompasses EFS media-optimized shared storage and FLOW intelligent media management. In 2022, the company introduced EditShare FLEX on AWS, ensuring that professional production and post-production entities can craft remote and collaborative workflows tailored to their creative and commercial aspirations.

Shift Media’s cloud-native, SaaS solutions include MediaSilo, Wiredrive, and Screeners.com. MediaSilo functions as a video collaboration hub, aiding prominent media entities in expediting project approvals. Wiredrive facilitates commercial production companies and agencies in crafting custom pitch materials and showreels swiftly. Screeners.com, meanwhile, enables virtual screening experiences, catering to press reviews and sales opportunities for high-value pre-release content.

New EditShare CEO Ramu Potarazu

Upon the transaction’s conclusion, Ramu Potarazu, the current CEO of Shift Media, will spearhead the combined company under the EditShare banner while Conrad Clemson, the present CEO of EditShare, will depart to explore new ventures.

“The relentless efforts of Conrad and the EditShare team have fortified our future prospects,” expressed Potarazu. “Both EditShare and Shift Media, with their market-leading products, services, and mutual dedication to empowering video production creators, are poised to establish a comprehensive one-stop solution. This merger will expand our product range and global network of channel partners, enhancing our ability to cater to global customer needs.”

“The robust businesses and potent product offerings of both our companies make this merger promising,” remarked Stephen Tallamy, CTO of EditShare. “Together, we aim to cater to the vast middle market with an intuitive content management and collaboration solution.”

ParkerGale Capital and Marlin Equity Partners, investors in EditShare and Shift respectively, will retain their roles as primary investors and board members in the merged entity.

“I am enthused about the continued support from Marlin Equity Partners and ParkerGale. Our collective vision is to deliver state-of-the-art solutions in response to the skyrocketing growth in video production and the ongoing shift towards flexible, collaborative on-premise, hybrid, and cloud workflows,” added Potarazu.

Live demonstrations of the solutions from the merged entity will be showcased at IBC2023, stand 7.A35.

Visit www.editshare.com and www.shiftmedia.io.

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