Media production company Taya Communications Ltd. (TASE: TYCO) announced today that its subsidiary Taya Media Group has signed an memorandum of understanding to acquire 50% of UK media solutions provider WTS Broadcast for $5.6 million.
Taya Communications chairman and CEO Ami Giniger said that the move would enable the group to expand to international markets and reduce its dependence on the local media market. The completion of the deal is subject the completion of due diligence by Taya.
WTS Broadcast markets engineering solutions, technologies and equipment to television studios and production rooms in 40 countries. It also owns a production studio in London.
WTS sales director Ofir Mor said, "We believe that this collaboration and joining of forces will enable the group, within a short time frame, to expand the range and quality of our product line, and increase company revenue accordingly."
Taya Communications operates primarily through three subsidiaries: United Studios (located in Herzilya), Primus Design and GooMe Interactive.
Published by Globes [online], Israel business news - www.globes.co.il - on June 17, 2007
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