Cambridge-based media asset management firm Imagen has been acquired by Thomson Reuters, the parent company of news outlet Reuters, for an undisclosed figure.
The sale marks an exit for Cambridge Innovation Capital, Guinness Ventures, Downing Ventures, and Foresight Group. Investing in Imagen in 2018, Foresight noted that they'd seen a 1.9x ROI.
Co-founded in 1996 by Tony Blake, an early advocate of publishing on Laser discs in the early 1980’s, and Paul McConkey, Imagen began life as an offshoot of the work the duo had done with surveillance imagery for the Ministry of Defence.
Over the past 27 years, Imagen has grown into one of the leading media asset management platforms globally, offering sports organisations, businesses, and media companies effective management of their digital content libraries. Beyond management, Imagen also owns Screenocean, a platform that provides production companies and others the ability to license video and photo content from around the world.
"We're delighted to become part of the Reuters family and are excited for the potential this gives us," said Imagen CEO Charlie Horrell. "The combination of Reuters and Imagen brings significant opportunities to reach new customers and better serve existing ones. We look forward to a bright future together."
Effective immediately, Imagen will operate part of the Reuters News division at Thomson Reuters.