News blog
Zoo Digital
- BY: Andrew Hore |
- POSTED: 30/07/2007 |
Digital media technology company Zoo Digital is buying independent compression and authouring service provider Scope Seven.
Zoo had found it difficult to win business in Hollywood because of a lack of service presence in the market. Scope Seven will give it that presence and brings with it an internet-accessible collaboration system that is used by Warner Brothers. This product can be offered to existing Zoo clients. Zoo is paying up to £2.45m for the business, £750,000 of which is based on performance over the next three years.
Zoo’s products include interactive DVD software, linear DVD production software and a Template Authoring System that can accommodate existing and future technology. Last year was a period of consolidation for Zoo. Both its turnover and loss fell.
Zoo is raising £3m at 25p a share in order to fund the acquisition and provide working capital. The shares are trading at 34.5p.
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