UK-based Media Tech SPAC has entered into a definitive agreement to acquire Drylab, a film and TV production SaaS platform in Scandinavia. The acquisition is expected to be completed in the coming weeks.
Financial terms were not disclosed.
Drylab is used in over 90% of film and television productions in Norway and Sweden, according to the news release.
MTS executives and senior management have worked together for over 25 years at Warner Bros and have held senior positions at other big studios including Universal and Paramount Pictures. John Mahtani, the CEO of MTS, will hold the same role in the combined business. At Warner, he worked on all eight Harry Potter films, Superman, The Matrix, Batman & Dark Knight Rises. On leaving Warner Bros in 2013, he co-founded Cinelab London, which worked on major productions such as Star Wars 8, Mission Impossible 6, Wonder Woman 2 and No Time To Die, the latest film in the James Bond series. Read more.
