Production management specialist Cast & Crew Entertainment Services has bought screenwriting software leader Final Draft Inc. for an undisclosed price.
Cast & Crew said the deal, announced Tuesday, continues to accelerate its investment in technology, supported by its majority shareholder Silver Lake Partners. Cast & Crew, which provides payroll and residuals processing, accounting systems and software, and production incentive consulting, was acquired by Silver Lake Partners in mid 2015.
“With a clear strategic vision, and the active input of our clients, we are leveraging technology to create compelling end-to-end solutions,” said Eric Belcher, president and CEO of Cast & Crew. “We are delighted to partner with the best screenwriting software company in the business. We see powerful links between this exceptional product family and the digital payroll and production solutions we are providing. It all starts with the script.”
Marc Madnick, CEO and chairman of Final Draft, said the deal will lead to better software and customer experience for screenwriters and filmmakers. “Together, we will accelerate our development process and further solidify our industry leadership for many years to come,” he said.
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Madnick co-founded Final Draft 25 years ago. Belcher said Final Draft will continue to operate under its current name and with its current senior team led by Madnick and Scott McMenamin, the company’s president.
Burbank-based Cast & Crew was advised by Kirkland & Ellis LLP. Final Draft was represented by investment bank MediaBridge Capital Advisors.