Ross Video has completed the acquisition of the Piero Sports Graphics business from London, UK based Red Bee Media. The acquisition by Ross and sale by Red Bee are complementary to each company’s strategic objectives with the Piero products complementing Ross Video’s sports solutions portfolio by adding advanced sports analysis graphics.
As part of the business transfer, all Piero employees have moved to Ross Video’s UK subsidiary (Ross Video UK) from Red Bee Media. Financial terms of the acquisition were not disclosed.
Piero Sports Graphics is an award-winning sports analysis tool-set used by high profile broadcasters to provide audiences with new angles and virtual views of sports events through 3D graphics and image recognition and by sports clubs as a coaching tool to guide players and improve team performance.
Red Bee Media, which was spun out of Ericcson's media solutions business in late 2017 as an independent brand media technology brand, wants to completely focus on growing it's broadcast and playout managed services business.
“The sale of Piero Sports Graphics supports the execution of our strategy, fully focusing on delivering market-leading managed services within broadcasting and media. Ross Video is well positioned to continue to develop Piero and they will be able to leverage the potential of the product and accelerate the growth of the business”, says Steve Nylund, CEO, Red Bee Media.
“Piero Sports Graphics are a perfect complement to our industry-leading XPression Graphics and VS/AR offerings”, says David Ross, CEO, Ross Video. “Our worldwide sports production customer base will really appreciate the added momentum and exposure we can give to this legendary product.”
David Ross further commented on the deal on LinkedIn: "Sports Analysis Graphics is a perfect complement to everything we already do in the world of XPression Motion Graphics, Voyager Augmented Reality, and our whole line of the virtual set and augmented reality products. This is all about helping broadcasters tell their stories and insights about the sports they're passionate about. It also helps the teams themselves get even better at what they do.
"One of the fun things about this product is it's easy to explain what it does to friends because billions of people around the world have already seen it in use! I'm super excited to make this legendary product more available to our sports customers around the world!" added Ross.
Ross said it will be business as usual from a customer perspective. The two parties will continue to co-operate closely as the transition is completed, with Ross Video delivering Piero Sports Graphics and supporting all former Red Bee Media customers.