Re:fine acquired by US post-production firm

The US post-production and digital distribution facility has taken a majority stake in Re:fine for an undisclosed sum.

The deal, which closed on Monday, will see Re:fine rebranded as Visual Data next year.

Visual Data chief executive John Trautman will lead the merged company as chief executive and chairman.

Re:fine chief executive Symon Roue will take on the role of managing director and be responsible for the European operation.

Both companies are part of Netflix preferred vendor scheme. Roue said he was introduced to Trautman during an away day organised by the online video provider.

He said: “It occurred to us that we run similar businesses. Visual Data is about twice the size of Re:fine but the companies have similar business cultures and we are both keen to expand into each other’s market.

“A partnership or strategic alliance can be bit wishy-washy so we thought let’s make it real and meaningful.”

Visual Data provides mastering, localisation and distribution of content for worldwide media outlets, including domestic syndication in the US, network broadcast, international distribution, VOD, and SVOD for studios, distributors and other platforms.

As well as Netflix, the companies’ clients include iTunes, Google and ITV.

Both companies have recently invested in Xytech’s MediaPulse asset management system and Trautman said further investment would be made to configure their systems.

He added: “This acquisition will provide a seamless client experience across multiple time zones while simultaneously increasing operational capacity and efficiencies.

“Client demands have led us to this expansion into Europe and we have found in Re:fine a company that shares our vision, excellent client relationships and impressive technological expertise.”