Friday 14 February 2020

14 February 2020 - California-based back-office services company Cast and Crew, focussed on the entertainment industry has agreed to purchase Los Angeles-based payroll and production management solutions provider Media Services, to combine digitising, automating, and to simplify the experience of creating entertainment content, the company said.
Terms of the transaction were not disclosed.
Media Services will continue to operate as a distinct brand.
Cast and Crew was supported in this transaction by EQT, its parent company. The addition Media Services will add to Cast and Crew's solid platform and help to enhance and expand the scope of the products and services.
Cast and Crew was represented by the law firm of Latham and Watkins, LLP and Media Services was represented by the law firm of Sheppard Mullin LLP. Moelis and Company LLC acted as exclusive financial adviser to Media Services.
Cast and Crew Entertainment Services, LLC provides technology-enabled payroll and human resources, accounting and financial, and workflow and productivity software and services to the entertainment industry.
Media Services is an accounting, payroll and software company, serving feature, television, commercial, corporate and Internet productions worldwide as well as music video and residual clients.
EQT is an investment firm with approximately EUR 50bn (USD 54bn) in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19bn (USD 21.6bn) and approximately 110,000 employees.