Regular readers will know that Streetbroadcast went Tango Uniform February / March this year and that the administrators were looking for a new buyer.
Looks like this wasn’t a ripping off creditors style ‘pre-pack’ deal and word reaches us that Primesight have been looking at doing an acquisition of Streetbroadcast for the princely sum of GBR 250,000.
Some of the money for this deal if it happens is likely to come from GMT Communications Partners we believe. Sources close to the deal tell us the deal amount; GBR 50,000 for Intellectual Property and GBR 200,000 for the company itself.
Primesight have no real digital offering at the moment – you could argue that even with this acquisition they still don’t, Ed 😉 but overall this is probably money well spent by Naren Patel, Primesight CEO.
As long as Naren realises that he will need to throw away all of the LiteLogic screens that Streetbroadcast have in place at the moment and make a clean (digital) start then we can probably expect great things from this new combined force.