TV programmes producer Boomerang Plus has bought a majority stake in factual programming producer Oxford Scientific Films.
The trade assets and liabilities have been acquired for £516,000. Boomerang Plus is taking a 70% stake and the management will own the other 30%. The business generated revenues of £2.2m in the year to June 2010.
The deal will help Boomerang Plus to expand in North America as well as bringing a strong back catalogue to the group.
The deal should be earnings enhancing in the year to May 2012.
At 55.5p a share, Boomerang Plus is valued at £4.95m.
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