Cinram Acquires Saffron Digital4 Sep, 2013 By: Chris Tribbey
Toronto-based Cinram has acquired online video technology company Saffron Digital, giving the disc replicator a complementary piece to its digital media agency, 1K Studios.
Cinram purchased Saffron from HTC Corp. for $47 million.
“We are excited to welcome Saffron Digital into the Cinram group of companies,” said Cinram CEO Steve Brown. “In the field of digital rights management, Saffron Digital has led the way, delivering a superior viewing experience across the spectrum of online devices. This acquisition enables Cinram to build on its reputation as a complete end-to-end supply chain provider to the entertainment industry within the digital, as well as physical, space.”
Saffron Digital counts every major studio other than Paramount among its partners, as well as Akamai, DTS and Dolby. The company specializes in premium multi-platform video delivery, including over-the-top and UltraViolet services. Currently its video technology is used on more than 100 million devices.
“Being part of such a successful international entertainment company like Cinram is a great move for Saffron Digital,” said Saffron president Jason Keane. “It will enable us to significantly scale our existing digital business and build a unique premium content delivery platform that works seamlessly from physical through digital to the end user.”
Cinram was acquired by Najafi Cos. — owner of Direct Brands and SkyMall, among other brands — in mid-2012, and the Saffron acquisition marks another step in Cinram’s goal toward being the entertainment industry’s end-to-end, physical-to-digital service provider, according to Najafi CEO Jahm Najafi.
“Saffron Digital is an ideal partner to add to our Cinram portfolio,” he said. “Its cloud-based digital content delivery and usage is industry-leading and adds further depth to our entertainment-related investments and holdings.”