Southport Lane Management, a New York-based private equity firm, has acquired a majority stake in Massive Interactive, which provides platform software and design for multi-screen entertainment. Massive also announced that it is now trading on the OTCMarkets under the ticker symbol ‘HUGE’.
Massive Interactive Inc. (OTC QB: HUGE), a leader in platform software and design for multi-screen entertainment, announced its shares are now traded on OTCMarkets.com under the ticker symbol ‘HUGE’.
The listing comes after Southport Lane Management, LLC (“Southport”), a New York private equity firm, acquired a majority stake in Massive. The Southport acquisition will allow Massive to execute its growth strategy and innovative product roadmap into 2014 and build on its position in the telecommunications, broadcast, hospitality and airline sectors worldwide.
“We are delighted about this new opportunity with Massive,” said Southport Lane President, Jeff Leach. “Not only is the company an innovator in the ‘TV Everywhere’ sector, but it has a highly experienced and capable management team who have built a profitable company over the last 17 years. We believe that our investment will place Massive in an even better position to expand.”
Massive CEO Ron Downey said, “We are thrilled to have Southport’s team now working with us to accelerate our success in the ‘TV Everywhere’/on-demand sector which, we believe, is one of the most exciting and fast-moving industry categories in the world.”
Downey continued: “Southport Lane’s investment and our public listing will enable us to expand Massive’s current service offering around the world and assist in the launch of our new managed multi-screen video service delivery platform, Massivision, which will be previewed at CES (Las Vegas) in January. Massivision will deliver an end-to-end, enterprise-grade solution for content owners and distributors, of any size, to deliver multi-device video entertainment services to their consumers.”
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