Studio City, Calif.-based FilmTrack will integrate Jaguar’s software into its own cloud-based platform, which offers rights and royalties management, finance and delivery using a software-as-a-service approach. With the acquisition, FilmTrack aims to offer more services and to speed up its development cycle.
“We not only add some wonderful clients but we add some expertise in financial and accounting management, specifically the area of royalties, which is becoming more important for any content owner,” said FilmTrack CEO Jason Kassin. Jaguar also has expertise and clients in consumer products, which FilmTrack has not had before.
Jaguar, founded in 1985, brings “a few dozen” clients with it, said Kassin, including Sesame Workshop, A&E, E1 Endemol, Lakeshore and, in consumer products, American Greetings. FilmTrack has around 150 clients include Miramax, Inception Media and Screen Australia.
Terms of the deal were not disclosed. The staff of Pasadena-based Jaguar, including senior management, will continue in their jobs as FilmTrack employees. “A crucial part of this acquisition is not just the technology but the expertise, the relationships and the knowledge share,” said Kassin. “These guys have been doing it for many decades and have extensive experience in rights and contract management.”
FilmTrack received a $20 million tranche of financing from Insight Venture Partners in August 2013 and brought former Miramax CEO Mike Lang onto its board at that time.