Business
Further Investment in Bibop
Further Investment in Bibop.
About this update from Quantum Blockchain Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 3286H Brainspark PLC 26 May 2011 \n \n\n26 May 2011\n \nBrainspark plc\n (\"Brainspark\" or \"the Company\")\n \n \nFurther Investment in Bibop\n \nBrainspark plc (AIM: BSP), a fast growing international investment company, announces that it has completed the additional investment announced on 1 March 2011, in Bibop S.p.A. (\"Bibop\"), a leading digital media company, taking its holding to 93.78 per cent.\n \nBrainspark has purchased the additional 42.03 per cent interest in Bibop from Digital Magics S.p.A., an Italian technology incubator investor. Following this transaction Digital Magics no longer has an investment in Bibop; the remaining 6.22 per cent. is held by management of Bibop.\n \nAs previously announced, Brainspark has paid EUR 1 million in Brainspark ordinary shares at a price of 0.50 pence, equivalent to 1,760,000 shares. This price is at an 82 per cent. premium to yesterday's closing price in Brainspark. In addition, Brainspark will pay EUR 1,034,925 in cash within 270 days.\n \nBibop is currently in negotiations with various broadcasters in the UK and US to supply its MyCast interactive video product. Bibop expects to post revenue of EUR 2.5 million and EBITDA of EUR 0.5 million in the current financial year.\n \nAlfredo Villa, Chairman and CEO of Brainspark, commented, \"Bibop has quickly become a market leader in interactive video, with many of the world's leading broadcasters and TV studios currently trialling the system with overwhelming results and positive feedback. We expect to announce some important deals with well known parties in the near future.\"\n \n-ends-\n \nFor further information please contact:\n \nBrainspark plc &nbs...