Grass Valley and Qvest partner to jointly address media market challenges
The companies Grass Valley and Qvest have reached a $25 million, multi-year contract for combining their strengths and market offerings to meet the demands of today’s media industry. The deal brings technological, operational and financial benefits to Qvest for standardizing on Grass Valley’s production solutions. Also, and said on the press announcement, “the partnership will benefit from enhanced economies of scale, creative commercial models and closer technological collaboration”.
“The media and entertainment industry is evolving at an astonishing rate with audiences demanding more content across a greater number of devices,” said Christian Massmann, CSO, Qvest. “Our customers are the cornerstone of the M&E space, ranging from news networks to sports broadcasters, video streaming services, and major film studios. These technology-reliant operators demand state-of-the-art solutions that enable them to differentiate their services and maintain a competitive edge. To offer this to our customers, in addition to our technology and transformation expertise, we have built up a worldwide partner network of first-class product manufacturers over many years.”
Tim Shoulders, CEO and president, Grass Valley added, “We are delighted to be embarking on this next phase of the strategic partnership with Qvest and look forward to jointly realizing the benefits of the win-win enterprise agreement. Over the past 20-years, we have forged a powerful alliance and this next step will further strengthen our technology and business collaboration and will provide customers with world-class solutions that address both current operational challenges and longer-term transformational goals.”