Ex Warner Bros execs acquire disruptive media tech

Media Tech SPAC plc announces the completion of its acquisition of Drylab R&D A/S, a leading ﬁlm and TV production SaaS platform in Scandinavia. The Board of Directors of MTS believe the combination of the disruptive Drylab technology with the big studio experience and global network of the MTS’s executives positions Drylab for signiﬁcant growth.

Drylab is well-positioned for growth as, following the acquisition, it is backed by executives and senior management with signiﬁcant global industry experience, including having worked together for over 25 years at Warner Bros and holding senior positions at other major studios such as Universal and Paramount Pictures. The Directors believe that the Drylab technology is the only solution that combines an on-set production tool and digital dailies (ﬁlmed takes) platform.

John Mahtani, CEO of Media Tech SPAC plc, commented: “We are thrilled to have completed the acquisition of Drylab and we are excited to bring this world-leading ﬁlm and TV production platform to the global market. Drylab was developed by ﬁlmmakers to develop systems and technology to assist their own ﬁlmmaking – we believe no other solution provides the same package of features. This traditionally paper-based industry is ripe for disruption, and we are now perfectly positioned to do exactly that.”

Rick Senat, Non-executive Chairman of Media Tech SPAC plc, added: “It’s fantastic to bring this process to a close and start distributing Drylab beyond Scandinavia to the whole world. This deal will also enable the Drylab developers to spend more time improving the platform and developing new features to make ﬁlms quicker, cheaper and greener to produce. We are very excited to embark on the next step on our mission to transform the ﬁlm-making industry.”