Investcorp acquires stake in Thought Equity Motion
New York, NY January 10, 2012 - Investcorp Technology Partners, the technology private equity arm of alternative investment manager Investcorp, announced today that its Technology Partners III Fund has acquired a significant minority stake in Thought Equity Motion, the leading provider of cloud-based video management and footage licensing services, based in Denver, Colorado. Investcorp Technology Partners invested a total of $28 million, making it the largest single shareholder in the company today.
Investcorp Technology Partners will work alongside Thought Equity Motion's founders, existing management team and investors to drive growth in its U.S. and international markets. The company's T3 Platform supports storage, access, delivery, and monetization for major studios, sports rights holders, and other media companies worldwide. Its global footage licensing platform (www.thoughtequity.com) is the premier destination for the world's leading video producers to license high-quality sports, news and entertainment content. The two businesses are complementary, with customers able to leverage multiple components across their own lifecycle of content creation, monetization and storage.
"We are delighted to partner with Thought Equity Motion's management team and shareholders to continue building what is already the fastest growing cloud-based video management service provider," said Andrew Flett, a partner at Investcorp in New York. "With its technology leadership, blue-chip client base and superb management, Thought Equity Motion is well positioned to drive transformation in the video supply chain in the U.S., Europe, and Asia. Thought Equity Motion is a perfect addition to our existing top-notch portfolio of media and technology companies."
Mr. Flett will join Thought Equity Motion's board of directors along with Hazem Ben-Gacem, an Investcorp managing director and co-head of its technology investment team. Thought Equity Motion becomes the seventh investment in Fund III.
"Our partnership with Investcorp validates our leadership position, and Investcorp's global presence and relationships will fuel our growth trajectory around the world," said Thought Equity Motion's CEO & Founder Kevin Schaff. "With the explosion of demand for video content, video rights holders are seeking to unlock the value of their assets and make their libraries accessible for next-generation uses. At the same time, the video production community is always seeking to maximize its resources by leveraging high-quality previously shot footage."