"This acquisition brings two great companies together to create a major new force in the global broadcast and media technology market,” says Ray Cross, executive chairman and CEO of Quantel. “This will enable us to better serve Quantel and Snell customers around the globe. Our product ranges are entirely complementary, so the excellent Snell and Quantel brands and product ranges will continue. We'll be able to combine the best-in-class talent and technologies from Quantel and Snell to bring exciting new products and solutions to market to help our customers transform their businesses. More local offices across the world will enable us to build closer relationships with our customers and to offer even better support."
Paul Martin, managing director of the Snell TV Everywhere division and Robert Rowe, managing director of the Snell Live TV division will join the Quantel board. Tim Banks, Snell sales director, and Peter Fredericks, Snell finance director, will also take leading roles in the newly-combined organization.
"I'm really delighted that the Snell and Quantel businesses have come together to increase the scale and scope for both," says Simon Derry, outgoing CEO at Snell. "Under Ray's leadership the combined business will be able to write a new and exciting chapter moving forwards. I look forward to supporting Ray during the important period of transition."
According to Cross, a new world-class facility will be established at the company headquarters in Newbury, where it will produce the complete Quantel and Snell product range. Together, Quantel and Snell have offices in 16 locations all around the globe, and a combined revenue of more than $170M.