Entertainment Partners, which provides various services to the film and TV industry, announced Monday that it is acquiring CASHét, a leading payment processor for productions.
CASHét provides p-cards and handles accounts payable functions through an online portal.
“CASHét has built an innovative digital payment platform that is trusted across the industry,” Markham Goldstein, president and CEO of Entertainment Partners, said in a release. “Bringing CASHét into our ecosystem will allow us to provide productions with an unmatched, fully integrated, end-to-end financial solution.”
Entertainment Partners handles payroll services, budgeting and support in obtaining government production incentives around the world. It also owns Central Casting, the clearing house for acting, along with other services. The company has previously partnered with CASHét to offer its CASHétPay platform to clients.
CASHét will continue to offering the same services, and will still work with other payroll providers, after the acquisition, the company said in the release. The company currently offers its full suite of services only in the U.S. and Canada, with the p-card also available to productions in Europe, Australia and New Zealand. Part of the aim of the acquisition is to expand those offerings around the globe.
“Joining forces with Entertainment Partners marks an exciting new chapter for CASHét,” said Paul Rogers, the president of CASHét, in the release. “With EP’s global reach, financial strength and industry expertise, we have an opportunity to expand our efficient payment solutions to more markets worldwide.”
CASHét was founded in 2012, offering a credit card with 1% cash back to independent productions. According to its website, its clients now include major studios, streamers, and cable and broadcast companies.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source variety.com ’
