Toronto-based global replicator and supply chain service provider Cinram, a Najafi Companies affiliate, has acquired Saffron Digital, a specialty firm that provides and manages digital media content, for $47 million from HTC.

With offices in London and Beverly Hills, California, Saffron Digital specialises in the global management and delivery of premium multi-platform video services. Saffron's 'Stage' platform provides the tools needed for Over-The-Top (OTT) or UltraViolet services and powers more than 30,000 premium movies on more than 100 million devices including smartphones, tablets and other online channels.

Cinram, acquired by Najafi Companies earlier this year, also provides digital and creative services through its Los Angeles-based digital media agency, 1K Studios. 1K is known for its award-winning work in digital book and app development, enhanced user experience and consumer engagement. Saffron Digital complements the current portfolio companies of 1K Studios and Cinram by providing a complete physical to digital delivery platform.

"In the field of Digital Rights Management, Saffron Digital has led the way, delivering a superior viewing experience across the spectrum of online devices," comments Cinram CEO Steve Brown. "This acquisition enables Cinram to build on its reputation as a complete end-to-end supply chain provider to the entertainment industry within the digital, as well as physical space."

The acquisition of Saffron Digital is a strategic move by packaged media manufacturer Cinram to transition content to cloud-based platforms.

Story filed 05.09.13