April 18, 2012 03:51 AM | Press Release
Boston, MA – April 18, 2012 – Covington Associates announced its role as a financial advisor to RadiantGrid Technologies, a developer of leading-edge transcoding, transformation, and New Media Automation service platforms.
The RadiantGrid software platform offers built-in intelligence that automates the entire workflow for managing file-based preparation, ingest, and distribution of digital media content. The union of Wohler’s modular monitoring and processing solutions with RadiantGrid’s advanced parallel processing technology will enable the two companies to streamline IT-centric workflows with a full range of video, data, audio, and QC solutions that support broadcasters’ rapidly evolving needs. “This is the most important moment in the history of RadiantGrid”, said Kirk Marple, president and chief software architect of RadiantGrid Technologies. “We’re proud to be a part of the Wohler Technologies family, and we look forward to finding creative integration points with Wohler’s strength in managing audio, video, and data. Together, we have long-term plans for RadiantGrid feature and product development. Building on Wohler’s worldwide sales and support resources, as well as the company’s market leadership, we plan to follow an aggressive growth path, domestically and worldwide, and to become a dominant company in the file-based workflow space.”
Ethan Jacks, lead advisor to RadiantGrid and former Managing Director at Covington Associates, said “We see this acquisition as a benchmark for the transformational change occurring in the broadcast and new media marketplace. Wohler and RadiantGrid together will help redefine the best practices for the industry.”
About RadiantGrid Technologies:
RadiantGrid Technologies is an independent software vendor that develops and markets the RadiantGrid Platform- a leading-edge media workflow services platform targeting Broadcast & Cable Operators, Content Owners, Advertising Vendors, Digital Cinema Companies, and User-Generated Content Portals. The RadiantGrid Platform provides media transformation capabilities including grid-enabled transcoding, multi-format transcoding, multi-track assembly, standards conversion, and closed caption extraction and upconversion, in addition to metadata management, storage management, and media publishing.
For more information about RadiantGrid Technologies, visit www.radiantgrid.com.
About Covington Associates LLC
Covington Associates LLC is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare, and technology companies throughout the country. Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to nearly $2 billion for both private and publicly traded companies.
RADIANT-GRID ACQUIRED BY WOHLER