15 December 2016, India :
Emerald Media, the Pan-Asia company backed by leading global investment firm KKR for investing in the media and entertainment sector, today announced that it has acquired a minority stake in Amagi Media Labs (‘Amagi’), the leader in targeted TV advertising and cloud-based TV broadcast infrastructure.
Premji Invest, the investment arm of Azim Premji, (an existing shareholder) is also participating in this combination of primary and secondary $35 million Series D round. Mayfield India and Nadathur Holdings will continue to remain invested in the Company.
Rajesh Kamat, Managing Director of Emerald Media, said, “Amagi has harnessed the transformative power of technology (both hardware and software) to change the way TV networks and brands perceive content delivery and monetization. Their cutting-edge technology is disruptive and the need of the hour. Emerald Media will assist Amagi in driving this change in the broadcast and digital industry by providing a distinctive combination of capital, domain knowledge and management bandwidth.”
Baskar Subramanian, Co-founder of Amagi, said, “Emerald Media, has a strong understanding of the TV Broadcast industry and the OTT space and we are very happy to partner with them. Their domain expertise and regional and global media relationships will help us further leverage the transition of the TV broadcasting industry to the cloud and expand our international footprint.”
Amagi is a next-generation media technology company providing cloud-based managed broadcast services and targeted advertising platforms to customers, worldwide. Amagi enables TV networks to create a complete broadcast workflow on the cloud and deliver content over satellite, cable, IPTV or OTT (Over-The-Top) platforms.
The fresh funds will enable Amagi to expand its targeted advertising platforms globally, enter new international markets for its cloud-based managed broadcast services and introduce a host of products to cater to the various needs of TV broadcasters and OTT networks.
