Softel acquired by global broadcast software provider
Deal marks Miranda Technologies’ first acquisition since the firm was sold to Belden Inc
TV captioning software provider Softel has been acquired by Miranda Technologies for an undisclosed sum.
Founded in Berkshire in 1983, Softel provides software solutions to broadcasters and production houses worldwide, including ABC, the BBC and ESPN.
The firm’s new owners Miranda Technologies provides hardware and software solutions for the television broadcast, cable, satellite and internet protocol television (IPTV) industry.
The deal marks Miranda’s first acquisition since it was bought by cables, connectivity and networking products designer Belden Inc.
Softel and Miranda executives are set to lead the integration planning, which they are hoping to complete by this Summer, with no disruption to Miranda or Softel during the transition.
Sam Pemberton, CEO of Softel commented on the sale, which was managed on their behalf by corporate finance house BCMS: “Selling a business is never easy, especially one for which I care very deeply.
“Which is why we are delighted to have found a partner in Miranda Technologies who share our goals, intimately understand our market and who bring so much know-how to the table.”