Filmtrust Acquires IFILM Software Assets
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IFILM and Filmtrust have formed a strategic collaboration to bring enhanced business-to-business online tools to the entertainment industry.
Under the terms of the agreement, Filmtrust will acquire IFILMs' key software assets including PRODUCTIONpro, LOCATIONpro, and JOBpro. IFILM will provide Filmtrust with promotional/marketing support and consulting to help bring these e-business tools to the entertainment market. IFILM will receive a preferred equity position in Filmtrust for IFILM's contributions to the co-venture, which will be branded under the Filmtrust name.
"As a growing ASP, We are continually striving to bring premiere e-tools and online services to the entertainment community," stated Filmtrust's CEO Andrew Adelson. "This partnership with IFILM enables us to add a suite of premium software applications to our online infrastructure and dramatically expand our scope of services in an effort to lead this emerging space. IFILM's exceptional tools and industry expertise will integrate well with our current offering. This collaboration is a giant step to producing the most adaptable and fully integrated platform of e-business and e-procurement tools in the entertainment community and providing the strongest possible resources to the industry."
"We have evaluated the production services category and identified Filmtrust as the right partner in this burgeoning market," said IFILM CEO Kevin Wendle. "They have the management team, products, and industry relationships to build this business for the long run. IFILM's software products - PRODUCTIONpro, LOCATIONpro and JOBpro -- complement Filmtrust's products perfectly. "This partnership allows IFILM to focus on its fastest growing businesses: the consumer portal and products serving above-the-line industry pros. We believe that serving the needs of below-the-line industry pros requires a dedicated team and we are excited to partner with the Filmtrust in this category," he said.