EditShare to merge with Shift Media

EditShare , a technology leader that enables storytellers to create and manage collaborative media workflows, today announced it has entered into a definitive agreement to merge with Shift Media, a leading cloud-native video solution provider that helps creators manage, present, and collaborate on their high value projects. The combined business will operate as EditShare, with Shift Media's well-known products MediaSilo, Wiredrive, and Screeners.com folding under the EditShare corporate brand.

Over the past several years, video creation has continued to accelerate in myriad industries globally, including entertainment, advertising, corporate communications, higher education, house of worship, and many more. Corresponding with this increase in content production, an explosion in video technology has occurred, leaving video professionals with an ever-growing, complicated stack of tools and vendors to integrate to get their jobs done effectively. The combination of EditShare and Shift Media will deliver a comprehensive, open solution that enables creative teams and content creators to seamlessly store, edit, collaborate, and share their content, whether they choose to work on-premise, in the cloud, or with a hybrid solution.

EditShare's high-performance workflow focused product suite includes EFS media optimized shared storage and FLOW intelligent media management. In 2022, the company launched EditShare FLEX built on AWS, ensuring professional production and post companies can build remote and collaborative workflows that suit their creative and commercial needs.

Shift Media's cloud-native, software-as-a-service solutions include MediaSilo, Wiredrive and Screeners.com. MediaSilo provides a video collaboration HQ, helping the biggest names in media get projects approved faster. Wiredrive helps commercial production companies and agencies quickly and easily create custom pitch materials and showreels. Screeners.com provides the industry standard virtual screening experience for press review and sales opportunities of high value pre-release content.

Ramu Potarazu, Shift Media's CEO, will lead the combined company under the EditShare banner following the close of the transaction; current EditShare CEO Conrad Clemson will leave the business to pursue other opportunities. The tireless work of Conrad and the EditShare team has put us in a position of strength for the future, Potarazu said. Shift Media was built on the principle that video workflow technology should be completely intuitive and customer friendly. EditShare and Shift Media are highly complementary businesses with market leading products and services and shared commitment to putting the power of video production in the hands of creators. As a combined company, we will create a one-stop shop with a more comprehensive range of products and global network of channel partners, enabling us to better meet our customer needs around the world.

Our two companies have very strong businesses and powerful product offerings, said Stephen Tallamy, CTO of EditShare. Together, we will be better positioned to deliver a powerful, comprehensive, and intuitive content management and collaboration offering to the broad middle market, which is where most of the industry sits.

ParkerGale Capital and Marlin Equity Partners, previous backers of EditShare and Shift, respectively, will maintain their positions as primary investors and board members of the combined company. "I m excited that Marlin Equity Partners and ParkerGale will continue to support the business," said Potarazu. Together, we are aligned on delivering cutting edge solutions in response to the stratospheric growth in video production and continued move towards flexible, collaborative on-premise, hybrid, and cloud workflows.

Demonstrations of the combined company s solutions can be seen at IBC2023, on stand 7.A35.

For more information on all EditShare solutions, please visit the website at www.editshare.com. Information on MediaSilo, Wiredrive, and Screeners.com can be found at www.shiftmedia.io.

LINK:	https://kitplus.com/news/editshare-to-merge-with-shift-media/9967...
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