The fast-paced change of today's media landscape and the hyper competition for consumer eyeballs, is intensifying the need for media and entertainment companies to stay ahead of the game through digital
The fast-paced change of today's media landscape and the hyper competition for consumer eyeballs, is intensifying the need for media and entertainment companies to stay ahead of the game through digital transformation and innovative technologies. To help these organizations adapt, stay competitive and provide better customer experiences, EPAM Systems Inc. (NYSE:EPAM), a leading digital transformation services and product engineering company, today announced the acquisition of Optiva Media, a niche professional services firm that provides product development and digital services to leading media companies.
"We're pleased to welcome Optiva Media to EPAM. The combination of EPAM's digital technology and product engineering expertise with Optiva Media's platforms and accelerators will create a complete and valuable end-to-end delivery capability in the media and entertainment space," said Balazs Fejes, President of EU and APAC Markets at EPAM. "Optiva Media brings an expanded understanding of the vertical domain as well as a proven track record in executing the necessary components of core media and entertainment transformational programs—from research and consultancy, to engineering operations, media and metadata management, as well as product design and deployment. Together, we will provide world-class, scalable solutions for media companies, enabling them to better innovate products, services and deliver new experiences."
With more than 18 years of industry experience, Optiva Media is a cutting-edge media and telecommunications leader with an expertise in engineering, operations, media and metadata management, product design and development, research, and technical consultancy. Optiva Media launched the first video-on-demand (VoD) system in Europe for ONO in 2008, the first over-the-top (OTT) streaming platform in Europe in 2011, and serves a host of clients including HBO, Vodafone, Telefonica, and Orange. Optiva Media's industry specific products and accelerators also provide deep knowledge in media and virtual reality components including Media Stream, XStream, Qaltiva and Virtual Xpanse.
"With Optiva Media's strong technology partnerships and agile mindset, there is already a strong connection with EPAM's Engineering DNA and passion for building creative solutions that deliver business value and innovative experiences," said Cristina Garcés, Founder and CEO of Optiva Media. "Joining the EPAM family gives us an even wider coverage of the entire value chain of digital television, from what is imagined to what reaches the screens of viewers worldwide. Together, we can deliver everything needed at the convergence point between technology and content," added Valia Merino, Chairman and Managing Partner of Optiva Media.
Dentons Europe acted as legal counsel and Ernst & Young Spain served as Tax and HR advisors to EPAM in the acquisition of Optiva Media. Toda & Nel-lo acted as legal counsel and HR advisors and Abanca served as financial advisors to Optiva Media on the transaction.
Learn more about EPAM's media, entertainment, and telecom expertise, visit www.epam.com/our-work/media-entertainment-and-telecom.