Latvian Veset has been acquired by Japanese media company Play

Latvian cloud service for TV content delivering Veset has been acquired by media company Play, a subsidiary of Japanese TV operator Nippon. The amount of the deal is undisclosed.

This acquisition will help Veset develop its solutions for cloud playout and channel management, hire more programmers, and scale in global markets, increasing its presence in Asia. And for the Play, it would be an opportunity to offer its services outside of Japan. The Latvian startup has been working with Play since 2019. Play has already integrated Veset's platform Nimbus into its own KRONOS cloud playout service for the Japanese market.  

Startup was founded in 2011 in Riga by Gatis Gailis, his father - ex-prime minister Māris Gailis, and other entrepreneurs. In 2014 it created the parent company Veset International with an office in London. Veset has clients from Europe, the United States, Japan, Mexico, Brazil, and other countries. Most of its employees work in the Latvian office.

UPD: As commented in the company, in 2014 Veset raised 700K from a Latvian private investor, whose name is not announced. After 100% acquisition made by Play, the unnamed investor exited Veset.