PLAY acquires Latvian technology start-up Veset

PLAY Inc., a leading Japanese media technology company, has acquired Latvian technology start-up company Veset SIA, which will now operate as a wholly-owned subsidiary of PLAY and continue to develop solutions for cloud playout and channel management.

Veset’s playout solutions enable broadcasters to originate and manage professional linear channels completely in the cloud. Currently, Veset has clients in 20 countries, and more than 200 TV channels utilize the content transmission software developed in Latvia.

PLAY, a subsidiary of Japan’s largest television operator, Nippon, provides video distribution service solutions, utilizing the best-of-breed video distribution technology and a wide range of associated services to promote digital transformation in the media, content, and enterprise fields.

COBALT provided PLAY with full legal support for the transaction, including the preparation and execution of the acquisition. The team was led by Partner Indriķis Liepa and Senior Associate Diāna Zepa and included Senior Associates Agnese Gerharde and Ivo Maskalāns, and Associate Vadims Zvicevičs.

Veset announcement.