Tuesday, January 10, 2012
Thought Equity Motion Stake Acquired By Investcorp
Denver-based Thought Equity Motion, which provides a hosted service for storage of video libraries, has a new minority investor, private equity firm Investcorp. Investcorp said it invested $28M in Thought Equity Motion, making it the largest single shareholder in the company. Tought Equity Motion, which is headed by Kevin Shaff, provides it services to such clients as the BBC Motion Gallery, Paramount Pictures, Sony Pictures Entertainment, National Geographic, The New York Times, and the NCAA. It's unclear if Investcorp provided new funding or purchased its stake from existing investors. Investcorp said it has added Andrew Flett and Hazem Ben-Gacem to the board of Thought Equity Motion with the deal.