Arqiva acquires Inmedia in £68.5m deal

UK transmission group Arqiva has snapped up broadcast services company Inmedia for £68.5m.

Inmedia, which provides satellite uplinking and support services for broadcasters, was established in 1990 by BAE Communications and purchased two years later by Kingston Communications. Last year Kingston inmedia, as the company was then known, was bought by its management supported by private equity house The Carlyle Group.

Arqiva, formed after the £1.27bn purchase of ntl Broadcast last year by a consortium led by Macquarie Communications Infrastructure Group (MCG), said the combined businesses would be able to offer a broader range of services to customers.

Tom Bennie, chief executive officer of Arqiva, said: "There is significant growth potential in this market and we are very pleased with the Inmedia acquisition. We have funded the transaction from our own financial resources and I am particularly pleased to be reinvesting in core teleport infrastructure business in this way."

Nick Thompson, chief executive officer of Inmedia, added: "These are both infrastructure businesses with a good deal of synergy and it makes perfect sense to combine the best strengths of both, to ensure their continued success and to secure long-term benefits for customers."

Arqiva is 54% owned by MCG. Australian investment group Macquarie Bank—which last month acquired BBC Broadcast in a £166m deal—has a 13% stake in MCG.

Lovelacemedia  |  11.07.2005

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