Vislink has acquired channel-in-a-box and content management systems provider Pebble Beach Systems for £14.9 million.
Vislink said it will now be able to offer broadcasters a complete “scene to screen” solution.
It said the deal would turn Vislink into a full service video capture and playout provider, with Pebble Beach’s products complementing its existing range of wireless communications technologies.
Vislink executive chairman John Hawkins said: “Pebble Beach Systems is a perfect fit given our focus on product leadership and it will enable us to offer our global broadcasting clients a complete scene-to-screen solution.
“Additionally, the acquisition fits perfectly into our long term strategy of acquiring software and services capability that we hope to drive recurring revenues for the group.”
Pebble Beach Systems, which is headquartered in Surrey, was founded in 2000 and employs over 60 staff. It also has offices in the US, Dubai and Singapore.
Its clients include TV Globo Brazil, MBC UAE, Fox News, KCET USA, Banderaintes Brazil, OSN UAE, Viasat UK and ZDF Germany, with installations in over 60 countries.
Pebble Beach Systems managing director Peter Hajittofi said: “[the Vislink Group] has a fantastic global tier 1 client base in the broadcast sector that will give us an excellent platform for accelerated growth.”
The total consideration of £14.9 million is made up of £12.9 million in cash and £2 million in 4,700,904 new Vislink shares.
Vislink said that Pebble Beach has been purchased with in excess of £5.9 million cash on the balance sheet, resulting in an effective net consideration of £9million.
The cash consideration will be funded out of existing group resources and a new £10m debt facility.