LONDON, April 3, 2017 /PRNewswire/ --
PA Group - the news and information business and parent company of the Press Association - has added StreamAMG to its growing portfolio of specialist media businesses, having taken a 61% stake in the videostreamingcompany.
StreamAMG provides online, high definition video solutions to rights-holders and content owners, enabling them to capitalise on the value of their video content. Its services include live streaming, webcasting and video-on-demand for organisations and businesses across a range of sectors including sport, education, media and the public sector.
StreamAMG works with major brands across Europe, and in the UK provides services to the majority of the English Premier League football clubs, most of the major bookmakers and premium public sector clients including the BBC and the European Council.
This is PA Group's latest acquisition in a long-term strategy to diversify its business, and consolidate its position as the UK's leading provider of cross-platform news, sport and entertainment content and services.In addition to its initial investment, PA Group has secured an option to acquire the remainingsharesin StreamAMG.
The investment will support the continued expansion ofStreamAMG'sservices into new territories and sectors including media, sport and racing where PA has strong relationships and demand for live streaming services is predicted to grow strongly.
Post-acquisition the company will continue to be run by its two founders, Chief Executive, Duncan Burbridge, and Chief Technology Officer, Joe Bray.
Clive Marshall, Chief Executive of PA Group, who becomes Chairman of StreamAMG, said:
"We are delighted to bring StreamAMG into the PA Group. Video is already a central part of our content proposition to both our media and corporate customers, and the acquisition adds new capability in live-streaming, web-casting and video-on-demand, enabling new and existing clients to monetise content more effectively. Not only is StreamAMG's technology first class but their high-quality customer service and support of client monetisation strategies mark them out from other providers in this sector."
Duncan Burbidge, Chief Executive of StreamAMG, said:
"PA is the perfect partner for us. The acquisition brings together a fantastic brand in content creation with a technology services business in StreamAMG that has the capability to deliver live video content to any platform globally. PA's reach and relationships across multiple sectors will enable StreamAMG to exploit untapped market potential for its services and build on the company's impressive growth over recent years."
Today's news follows recent moves by PA Group to broaden its business portfolio; in 2016 the Group made a strategic investment in the social video creation platform, Wochit, and secured a 25% stake in the motoring business Baize Group.
Notes to editors
About PA Group
Headquartered in London, PA Group incorporates news, information and communications businesses. It is the parent company of the Press Association - the UK's leading multimedia news agency - along with three other specialist media companies. These are Globelynx, which provides TV-ready remotely monitored camera systems for corporate clients to connect with TV news broadcasters worldwide; Sticky Content, the UK's leading digital copywriting and content strategy agency; and TNR, a specialist communications consultancy. It also owns a stake in Baize Group, a leading provider of automotive content, events and PR services, and the social video creation platform, Wochit.
PA Group has 26 shareholders, made up mainly of UK national and regional newspaper publishers. The largest shareholders include dmg media Limited, News UK plc, Trinity Mirror plc and UBM plc.
About SteamAMG
StreamAMG (Advanced Media Group) provides European companies with global digital media solutions.
Our experts deal with production, signal acquisition, project management and equipment and are able to integrate with your existing systems and CMS. Our applications are technically excellent, hosted in Europe, and connected to a global CDN.
Our main sectors are: Sports, Education, Corporate, Government/NGO and Media. Our client list is second to none, and includes the BBC, Google, Liverpool FC and Everton FC.
