Screenwriting software developer Final Draft Inc. has been acquired by Cast & Crew Entertainment Services Inc., the companies announced Tuesday.
Terms of the deal between Cast & Crew, in Burbank, and Final Draft, in Calabasas, were not disclosed.
Final Draft will continue to operate under its own name and with its senior management, led by Chief Executive Marc Madnick.
The acquisition allows for Cast & Crew, which provides payroll and production-management services to the entertainment industry, to broaden its participation across the production lifecycle, said Chief Executive Eric Belcher.
“We see powerful links between this exceptional product family and the digital payroll and production solutions we are providing,” Belcher said in a prepared statement. “It all starts with the script.”
Final Draft, founded in 1991 by Madnick and business partner Ben Cahan, has become the preferred screenwriting software by automatically formatting scripts to industry standards. The company hosts its Big Break contest to find new talent and the annual Screenwriters Choice Awards.
“This is a great time to be a Final Draft customer as we focus on collaborating with Cast & Crew to deliver innovative solutions for every part of the screenwriting process and beyond,” Madnick said in a prepared statement.
Cast & Crew is owned by technology investment firm Silver Lake Partners in New York.