The new owner of DGP has made his second Soho facility purchase in less than a month, snapping up Rainbow Post in Ingestre Place.

Gareth Mullaney bought DGP in February (Broadcast, 27.2.09) and has now signed a deal for 100% of the shareholding of Rainbow Post, including the majority share held by indie Pioneer Productions. The combined purchases are thought to be worth more than £1m.

Rainbow and DGP will now be run side by side in the future, sharing resources. If viable, they will both be based at DGP's facility in Greek Street, providing HD post services including offline, online, audio, encoding, Blu-Ray and DVD services.

“Rainbow had a good reputation but it was a little bit under the radar,” said Mullaney. “I want to grow the company in conjunction with DGP. We'll work with clients to provide a post house for them - I want it to be diverse and replicate the complementary services that a big company might offer.”

As part of the deal, Mullaney has secured a first-look option on Pioneer's post-production work.

Pioneer managing director Stuart Carter said: “As we streamline our business, we are delighted that Rainbow is able to team up with Gareth and DGP. We look forward to continuing our relationship with them as clients.”