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Mood Media acquires assets of Technomedia and GoConvergence
Dec 31, 2012 (Datamonitor Financial Deals Tracker via COMTEX) --
Mood Media Corporation, a Canada-based in-store media company, has acquired the assets of Technomedia Solutions, LLC and GoConvergence, for approximately $23 million in cash plus contingent consideration payable in 2014, which is based on the profitable growth of the operations.
Technomedia and GoConvergence are providers of advanced audio-visual and interactive media development, technology design, and integration services. Both the companies are based in the US.
Technomedia is expected to generate annual revenues of $43 million and EBITDA of $5.7 million in 2012.
Dorsey & Whitney LLP acted as legal advisor to Technomedia.
Deal Value (US$ Million) 23
Deal Type Acquisition
Sub-Category Asset Purchase
Deal Status Completed: 2012-12-27
Deal Participants
Target 1 (Company) Technomedia Solutions, LLC - Assets
Target 2 (Company) GoConvergence - Assets
Acquirer (Company) Mood Media Corporation
Vendor 1 (Company) GoConvergence
Vendor 2 (Company) Technomedia Solutions, LLC
Deal Rationale
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