The media and entertainment (M&E) industry has been completely disrupted over the last three years in ways never before experienced in the modern age. The result of which is an entirely new approach to working: a massive shift to remote work and seamless collaboration. This shift has accelerated adoption of distributed processes that enable virtual employees to connect across departments and time zones, maximizing flexibility and efficiency. At Dalet, we have been thinking about this for a long time. Once we saw this happening, we knew there was no going back and that we needed to quickly make sure all of our products featured cloud-native architecture to support our customers in this transition.
Time was of the essence for our customers and we had to accelerate to keep ahead of this rapidly evolving market
With the full financial backing from our historical investor, Long Path Partners, we announced our strategy to go private in 2020, freeing ourselves from the financial restrictions of being a public company. This decision made it possible to focus on the technological innovations needed to drive and transform our business. The newfound freedom accelerated the delivery of new technology that empowers our customers and positions Dalet as a leader in this new era.
We're now ready to talk about what will be our biggest shift yet.
Ahead of the curve For more than 30 years, Dalet ushered the M&E industry into the future by wholly embracing IT and combining broadcast with digital, changing the way we all produce and distribute content. Since then we've presided over every sweeping change in media technology that upended old paradigms overnight, which is why we've stayed not just relevant but at the forefront of change.
We pioneered digital production for radio broadcasters back in the 1990s. When media asset management became a thing in the early 2000s, we built one of the first platforms to enable it at scale. In the mid 2000s our technology and methodology underpinning story-centric news production introduced an entirely new way the industry thought about making news. Today, our content supply chain and workflow automation technology remains unmatched and powers some of the most advanced media operations in the world.
We keep an eye on the future, always. In doing so, we know exactly where we need to be for our customers, what we need to build versus what we need to buy to leapfrog innovation and be ahead of the curve. Anticipating market needs, Dalet acquired Brio in 2010, the technology at the cornerstone of today's high-density ingest and playout workflows and tomorrow's elastic, cloud-native ingest solutions. In 2014, the company acquired AmberFin, the standards-bearer for image quality in transcoding and media processing. Both are best-in-class technologies that enriched the Dalet ecosystem to power the most demanding media supply chains.
An experienced cloud company for a new era As cloud came onto the scene, we immediately understood the benefits it would offer and made it a priority to build cloud technologies into our products. As in the past, we saw a tremendous opportunity to leapfrog innovation and build a production and distribution ecosystem for content creators that would transform the way major media companies work in the cloud. In 2019, Dalet acquired the Ooyala Flex business, a company of exceptional talent and technology that enabled us to realize our ambitions and bring to market the first cloud-native media supply chain and content management solution.
More recently, disruptions to media consumption habits and media supply chains have meant media organizations have adopted cloud technologies faster than they imagined. The systemic breakdowns of the COVID years has meant CTOs and managers have had to plug gaps using expensive, ad hoc fixes.
Coming out of the pandemic, scalable, sustainable, and robust solutions were needed to support the next phase of demand and production. The need for this technology is no longer an emergency fix; it's an expectation, and it must be more efficient and more affordable. Before the chaos, we had the overall picture in our sights; now, we have a way for our customers to future-proof their businesses with cost effective, cloud-native solutions that will enable them to compete and succeed in this new world.
Neither assets nor people can be tethered to closed ecosystems any longer. Your content needs to be accessible and actionable where staff, partners and other stakeholders are, integrate seamlessly to their systems, and be turned around not in weeks or months while someone waits for technology provision and deployment but days, hours or less. Business agility and speed to market have become essential.
So we've spent the last two years expanding our leadership and customer teams to understand what our customers' pain points are to the fullest and accelerating solutions to market to solve them. During that time, we rebuilt ourselves as a cloud-native, subscription-based media solutions company. Our leadership team has been strengthened with the appointment of Lincoln Spiteri as Chief Technology Officer, an expert in cloud architecture who designed the industry's first cloud-native media supply chain solution, and Delphine Vantours as Chief People Officer, a recognized people-centric leader who excels at building world-class teams. Both bring decades of transformational achievements and industry-specific experience.
Now, under the stewardship of Dalet's new CEO Carl Farrell, an accomplished executive who has successfully ushered several technology companies through transformative changes, we are prepared to continue our evolution, ensuring our customers are at the forefront with the most efficient, cost effective technology at their fingertips, and at their own pace.
A new platform approach
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The media and entertainment (M&E) industry has been completely disrupted over the last three years in ways never before experienced in the modern age. The result of which is an entirely new approach to working: a massive shift to remote work and seamless collaboration. This shift has accelerated adoption of distributed processes that enable virtual employees to connect across departments and time zones, maximizing flexibility and efficiency. At Dalet, we have been thinking about this for a long time. Once we saw this happening, we knew there was no going back and that we needed to quickly make sure all of our products featured cloud-native architecture to support our customers in this transition.
