1st Apr 2016 07:47
LONDON (Alliance News) - Television and multimedia content producer Ten Alps PLC on Friday said it has acquired corporate video production firm Straker Films Ltd.
Straker will be based in Ten Alps' London office and will be integrated with its corporate communications and TV production units.
Straker will boost Ten Alps' push to become a leading corporate video producer and brings a client base which includes miner Rio Tinto PLC, insurer Aviva PLC and the UK's Department for Education.
Ten Alps will pay GBP110,000 for Straker, with a further deferred consideration payable based on Straker meeting revenue targets in the year following completion. Ten Alps didn't provide the potential amount of the deferred consideration.
"The acquisition of Straker Films gives Ten Alps a significant and credible footprint in the corporate video and story-telling market and we look forward to growing our business in this high growth market," said Ten Alps Chief Executive Mark Wood.
Ten Alps shares were untraded on Friday morning, having last traded at 1.55 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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