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Independent Media Distribution

  • BY: Andrew Hore |
  • POSTED: 28/02/2011 |

Independent Media Distribution has agreed a 91p a share offer from a bid vehicle backed by Vitruvian Partners.

The offer from Lausanne Acquisitions values IMD at £33.9m. The IMD share price has not hit 91p in the past year or in the past decade for that matter. IMD digitally sends adverts to TV and radio stations and provides other analytical services. The executive managers, including chief executive Simon Cox, will be investing £388,000 in the bid vehicle. Cox will also swap his 219,780 IMD shares for shares in Lausanne, which he believes will have the financial muscle to expand the business in new directions. Acquisitions are a possibility.

Vitruvian has been involved in the buyouts of TV programming producer Tinopolis and gaming machines supplier Inspired Gaming. The buy out firm approached IMD in November.

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