It’s a bit of a stretch to call the BIS Group (‘BIS’)† a ‘European media provider’ which is what some reports have headlined with on news that Mood Media have been spending again – this time blowing EURO 22.5 million on a Belgium AV supplier.
The press release states that BIS is a leader in corporate and commercial audio-visual installation in the Benelux region – in the year ended December 31, 2011, BIS recorded revenue of €46.1 M and Profit Before Tax of €2.6 M.
Lorne Abony, CEO and chairman of Mood Media said “We believe that BIS’s sophisticated and comprehensive installation capabilities will enable Mood to better capitalize on its tremendous visual market opportunity and grow its visual recurring revenue base more efficiently”.
He added “The acquisition is in lock-step with Mood’s growth strategy of driving organic sales growth by enabling the enlarged group to offer an expanded range of products and services. The integration of Bis with Mood also offers further opportunities to centralize and realize scale economies from the combined organization.”
Bottom line, we see a wannabe global music company looking for monthly cash flow buying a little known AV installer. It’s not the most obvious match.
† “BIS Group” or “BIS” refer to the following group of companies: Aplusk B.V., BIS Bedrijfs Informatie Systemen B.V., BIS Business Information Systems NV, Avimotion Holding B.V. and BIS Elektrotechniek B.V..