Vislink acquires TV solutions firm Pebble Beach

19th Mar 2014 08:12

Vislink has acquired Pebble Beach Systems, a solutions provider for television operators, for which it has agreed a new debt facility. The consideration for the £14.9m deal was made up of £2m-worth of shares, equal to 4.7m at 42.5p each, and £12.9m cash, which is being funded from the new debt facility of £10m and existing resources. Pebble Beach was purchased with in excess of £5.9m cash on the balance sheet, resulting in an effective net consideration of £9.0m.Founded in 2000, and employing over 60 staff, Pebble Beach Systems is a leading developer and supplier of automation, 'channel in a box' and content management solutions for TV broadcasters, cable and satellite operators.John Hawkins, Vislink's Executive Chairman, 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." NR