Broadcast hire company Video Europe has agreed to sell its projects division to WTS Broadcast in a multimillion-pound deal.
Video Europe director Richard La Motte will leave the company to run the newly created VE Projects alongside other key employees.
The new company will supply multi-camera de-rigs internationally. The division has worked on jobs such as the Cricket World Cup and the 32nd America's Cup yacht race this year.
VE Projects will expand its operation with £1m of investment from WTS, which will be extended to several million pounds in the next few years. Video Europe will continue to focus on its core business of broadcast rental.
Video Europe managing director Steve Green said: 'Although we weren't looking to sell, the WTS deal suits us. It also means we can reduce our overheads by moving into our Soho site.'
The Soho site at 8 Golden Square has been remodelled to accommodate the extra kit and staff.