Business
Acquisition
Acquisition.
About this update from Zinc Media Group Plc
[{"type":"text","content":"\n RNS Number : 2064Y Ten Alps PLC 03 July 2008 \n \n\n\n\n\n\n\nPress Release\n\n\n3 July 2008\n\n\n\n\n\nTen Alps plc\n\n('Ten Alps' or the 'Group')\n\nTen Alps plc: Acquisition of Video Production Company:\nTwenty First Century Media Limited \n\nTen Alps plc, the factual media company, announces the acquisition of Twenty First Century Media Limited ('Twenty First Century'), a video production company based in Newcastle Upon Tyne with representation in Glasgow, Leeds and London.\n\nThe acquisition follows the success Ten Alps has achieved in expanding its capability in the growing market of online video production and it will strengthen further the ability to offer this service to the Group's existing 63,000 customer base.\n\nTwenty First Century has produced high quality video content for a range of corporate and public sector clients including Nike, Sage, The NHS and The Prince's Trust. \n\nTen Alps will pay up to £750,000 for Twenty First Century, being an initial £200,000 at completion with further payments to follow over the next two years against the delivery of certain tiered profit targets.\n\nTwenty First Century will operate within the Communications division of Ten Alps, delivering added capacity to the online video operation launched in November 2007 as well as a bespoke, scalable production system where many projects can be cost-effectively managed and tracked online.\n\nAdrian Dunleavy, CEO of Ten Alps' Communications division, said:\n\n 'This is a first class entrepreneurial business in what we see as one of our fastest-growth markets. \n\nWe've witnessed strong increases in demand for our video propositions in recent months across the B2B and public sectors. We are only scratching the surface of a potentially huge market and we welcome the additional resources and capacity that Twenty First Century Media will bring to us.\n\nWe are aiming for a market leading position in this fast developing sector and look forward to continued growth as we continue the roll out of video services to our customer base and open up other channel...