UK Online Video Firm Opus Media Bought By Australian Company For Up To $8.8 Million

This is a bit of a surprise, considering the company was planning on a $85 million IPO which never happened: Opus Media, the UK-based online video technology and services firm (which operates Bollywood.tv movie portal among others) has been bought by Australian technology investor Charter Pacific, for a total of up to $8.85 million which is a mix of cash, shares and future performance.
Out of the total price, only a small portion is upfront cash, and then rest is tied up in shares and performance based incentives. It should be considered a fire sale, judging by the plans the company had a year or so ago. Opus Media has online streaming technology which it says enables streaming at near-DVD quality. As a showcase, it also oerates three consumer portals, which include Bollywood movie subscription service Bollywood.tv; UK equestrian and countryside channel, Horse & Country; and the Royal Opera House channel. Some more details in the release here.
Related: Online Bollywood Movie Firm Plans AIM IPO

Comments have been disabled for this post