News blog
Retec Digital
- BY: Andrew Hore |
- POSTED: 20/05/2008 |
Retail screen media supplier Retec Digital is buying a designer and operator of screen networks.
It is paying £250,000 in cash and shares for Liquid Digital. Retec will pay back a £50,000 loan from Liquid shareholders and receiving a new £100,000 loan from Liquid’s former principal shareholder repayable at the end of 2008.
Liquid’s main customers are WH Smith Travel and Transmedia, which operates Cabvision entertainment screens in taxis. Liquid made profits of £20,000 on turnover of £551,000 in the year to May 2007.
The acquisition adds new markets to Retec’s existing business, which is dominated by the entertainment sections of supermarkets, such as Sainsbury. It also enhances the creative activities of the group. The two companies have worked together in the past.
Retec shares were unchanged at 2.625p, valuing the company at £4.15m.
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