BMAT has been working with Japanese clients from Spain for years. In the wake of its acquisition of Directors Gear, the country’s leading copyright management company, this SME decided to open a standing subsidiary in Tokyo in March 2020.
COFIDES backed the risk assumed by this specialised tech, a public music broadcast monitoring company, with a €500 000 joint venture loan from FONPYME funds to finance the purchase. Total project investment amounts to M€1.6.
"Our new Tokyo office affords us the opportunity to combine Directors Gear’s knowledge base and our technology and data to position BMAT at the heart of Japan’s musical ecosystem"
Jaume Vintro, COO of BMAT
Furthering foreign market entry by SME tech firms is among the priorities defined in the COFIDES Strategic Plan 2019-2021 to strengthen Spain’s business fabric. In the present endeavour, the two companies built on prior cooperation involving the introduction of BMAT in Argentina and the United States.
‘From the outset, BMAT has been closely bound to Asia. Japan gave us our first client and ever since we’ve tried to intensify our presence in that market’ says BMAT COO Jaume Vintro. ‘Our new Tokyo office affords us the opportunity to combine Directors Gear’s knowledge base and our technology and data to position BMAT at the heart of Japan’s musical ecosystem.’
With its proprietary VERICAST software, BMAT can track music broadcast on the radio, television, public spaces and digital networks with a view to charging royalties.
BMAT growth has rested on two pillars from the outset, its faith in R&D+I as a strategy for gaining market share and international expansion, which in the near future will focus on the creation of more subsidiaries in Latin America and Europe.