NanoTech Entertainment said that it has entered into an agreement to purchase Silicon Valley based Worldwide Global Entertainment.
The acquisition is effective immediately and the Worldwide staff will join the NanoTech Media division, the Company noted in a release.
"We are extremely excited about the opportunity to help expand our Media division," said Jeffrey A. Foley, NanoTech CEO. "Worldwide's management team brings a wealth of experience and contacts to NanoTech. Given our continued expansion in the home entertainment space, having a team of seasoned veterans join us to help expand our library of unique content is a welcome addition to the team. Worldwide has been working on several great products that will fit nicely in our lineup."
NanoTech said that Pete Crowley, will immediately take a position as Vice President of Sales for NanoTech Media. Crowley said "I've really enjoyed working with the NanoTech team over the past few months and am very excited to become an integral part of the team. I've got a long history of media production and development and combining my experience with the amazing NanoTech technology is going to be very exciting."
Further, Peter Riordan, CFO of Worldwide, will join NanoTech as Vice President of Strategic Planning. "I've been impressed with the forward looking strategies that the NanoTech team has employed, both in business and technology. I'm looking forward to being part of the management team that helps continue to guide the company," said Riordan.
NanoTech Director Alan Stone closed by adding "The Worldwide team has a lot of great projects that will be significantly enhanced by deploying them on the global delivery infrastructure that NanoTech has set up. By using the NanoFlix IPTV/OTT platform, these projects will get to market quickly on a wide variety of devices. This relationship will help us in continuing to deliver The Future of Television."
NanoTech Entertainment is a technology company that focuses on all aspects of the entertainment industry.
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