10 years ago, myself and co-founder, Igor Krol, set about transforming playout. Back then, we believed that playout could be entirely cloud-based without compromising on features. And that is exactly what we have achieved, helping broadcasters launch full-scale linear channels across any number of platforms, all using a true cloud playout platform.
Having seen Veset grow and develop from humble beginnings in 2011, into the global company it is today, I am incredibly proud of what we have achieved. Earlier this week we announced that Veset has been acquired by PLAY. This marks the start of a new and incredibly exciting chapter in Veset’s journey and I’m excited for what comes next.
Let me fill you in on the backstory. PLAY was formed in 2010 and is a leading media technology company in Japan that offers a wide range of products and solutions for video content owners and distributors. PLAY has been a customer and partner of Veset for several years and in that time, we’ve discovered that not only do we work really well together, but there are also a lot of commonalities between the two companies.
PLAY has been a partial investor in Veset since 2020, having already integrated Veset Nimbus into its own KRONOS offering, a cloud playout service designed for the Japanese market. Having used the solution for a number of customer projects across Japan, PLAY has extensive knowledge of its capabilities and understands its potential for broadcasters across the globe.
Here at Veset, developing innovative solutions that bring value and enable digital transformation has always been at the core of everything we do. Not only does PLAY share our values and vision for the future, it is also in the ideal position to support us to achieve our aims and grow the company significantly.
With this acquisition, PLAY is also investing in Veset’s amazing team, who are experts in cloud playout and who have deep knowledge of the broadcast industry, so understand the challenges and opportunities it presents for customers. The team’s extensive experience in developing solutions, getting customers setup and delivering linear channels is what makes us so good at what we do.
The acquisition will bring a wealth of new resources and opportunities to Veset, putting it in a strong position to further develop our professional-grade solution, Veset Nimbus. This will enable us to continue to add new features and functionality to support the changing needs of customers and viewers. We’ve got some exciting ideas that we can’t wait to explore and develop further.
With this acquisition, we’ll gain access to new markets, technologies, and talent, which will allow us to continue to innovate and grow.
Also important to add is, after much deliberation, Igor has made the decision to retire from the company, so I will be taking over from him as CEO. I can’t think of a more exciting time to be taking the helm.
Although we’re being fully acquired, we will continue to operate under the Veset brand. Customers will benefit from more development work, leading to a faster roll-out of new features. They will also have access to a bigger team, and more options on how to manage their linear channels, with the possibility of a managed service approach, which has been more limited until now. At the same time, they can continue to use the product and services they currently have, and receive the same level of support, or even more thanks to a bigger team.
Partners continue to be extremely important. Media workflows can be complex and the ability to easily integrate with other parts of the chain is crucial to giving our consumers an end-to-end experience. We will continue to work with our existing partners and will also be open to considering other partnerships that complement our offerings.
PLAY is committed to investing in our success, and we are excited to work together to achieve even greater heights. Our focus won’t change. We are committed to creating high-quality services that push the boundaries of innovation and generate value for both our customers and their end users.
On a personal note, I want to thank our customers, partners, and employees for their support and loyalty throughout the years. We couldn’t do it without you.