Premiere Digital Services, Inc., a Los Angeles, CA and Bangalore, India-based digital media services and software company, received an investment from Clarion Capital Partners.
The amount of the deal was not disclosed. Financing for the transaction was provided by Stellus Capital Management, QS Capital Strategies, LP, and City National Bank.
The company will use the funds to expand its geographic presence and accelerate growth of its software solutions.
Premiere’s management team, Mark Lazar, Erik Anderson, AJ Sauer, and Steve Rosenberg will continue to lead the business and are investors in the company alongside Clarion. As part of the transaction, Mr. Lazar has been promoted to CEO, while Mr. Anderson, Mr. Sauer, and Mr. Rosenberg will remain in their current roles as President, COO, and CCO, respectively.
Premiere Digital Services provides cloud-based digital asset delivery and content optimization solutions for clients in the Media & Entertainment industry. The company offers media services that enable content ingestion, preparation, management, and delivery/distribution of media assets to OTT, Mobile, and Broadcast markets, including workflows in UHD and HDR for video, audio, image, closed caption, or subtitle files.
Furthermore, the company offers software tools and custom software solutions for use in the media distribution space.