THE SWITCH Acquires Pacific Television Center and Partners with True Wind Capital
The combined company allows PacTV's customers access to THE SWITCH's highly advanced transport network and opens new major markets for The SWITCH's existing customer base including: Australia, France, New Zealand and Singapore. Operating under THE SWITCH brand, the unified companies will offer an unrivaled local, national, and global service offering, including a customer-controlled fiber/satellite hybrid service in the very near future.
"Through this acquisition, we intend to continue to build upon the solid reputation and relationships PacTV has built within the international broadcast community," said Scott Beers, Chairman and Chief Executive Officer of THE SWITCH.
"The marriage of our two companies will combine the power of rich fiber transport, with satellite and studio production resources, offering unparalleled global capability to our customers. I am truly excited for what lies ahead," said David Etherton, Founder of PacTV.
The combined company will continue to offer FiveNines Service, which includes its remote production solution Home Runs, as well as Inter-city on Demand (ICOD) transport, DownLinks on Demand satellite transport, and satellite transmission services, all of which will be available to customers over SwitchIT, THE SWITCH's award winning, customer-control platform.
True Wind Capital's investment will allow THE SWITCH to accelerate its vision and expansion roadmap. "We are excited to partner with True Wind to address the ever growing needs of our customers," said Beers, "and to benefit from their strategic and operational expertise built through their tenured careers of technology investing."
"THE SWITCH has established a world-class reputation by providing industry leading innovation and reliability in the broadcast video market," said Adam Clammer, Founding Partner of True Wind Capital. "True Wind is thrilled to support Scott and his team as they capitalize on numerous growth opportunities."
New Amsterdam Capital, management, and several existing shareholders invested alongside True Wind Capital.
THE SWITCH is North America's leading video solutions service provider. THE SWITCH currently provides advanced video switching and local fiber circuit services, scalable Ethernet, and "Home Runs" remote production via its FiveNines Service across the United States, United Kingdom, and Canada. THE SWITCH was awarded the 2013 New Bay Media Product Innovation Award for Switch-IT and the 2012 Broadcast Engineering Excellence Award for Network Automation. THE SWITCH was created in 1991 to provide cost-effective, customer controlled television signal routing services to the broadcast industry. THE SWITCH has been embraced by the marketplace since its inception and has grown to its current market leadership position.
About Pacific Television Center, Inc.
For 35 years, Los Angeles-based PacTV has been a leading transmission and live production provider to the global broadcast industry offering its clients around-the-clock support and services in fiber connectivity, satellite coordination, receive and records, multi-format tape play outs, live shots, satellite media tours and voiceovers. Its broadcast facilities in Los Angeles, New York, and London connect to the major terrestrial transport companies and switching centers within those cities. The company's solid reputation has led to long lasting relationships with both major networks and broadcast customers, as well as the industry's top suppliers.
About True Wind Capital
True Wind Capital is a San Francisco-based private equity firm focused on investing in leading technology companies. True Wind is a value-added partner, providing support and expertise that is rooted in 50+ years of collective investing experience.
About New Amsterdam
New Amsterdam is a New York-based private equity investor that provides capital and expertise to leading technology companies.