Netgem offers €6mn for VideoFutur

French firm Netgem, a provider of connected entertainment solutions, has submitted a takeover bid for French video distribution specialist VideoFutur Entertainment Group for around €5.9mn.

Joseph Haddad, CEO of Netgem, already owns a 42.3% stake in VideoFutur, and the two companies have an existing close relationship after working together for a number of years.

VideoFutur recently started moving beyond DVD rentals and into video-on-demand services, and Netgem hopes to gradually integrate VideoFutur’s cloud video technology into its overall lineup of products and services.

If the transaction is approved, Netgem will hold at least 77.5% of the share capital and voting rights of VideoFutur.

Netgem revealed last week that it plans to intensify its investments in the Connected TV industry after posting a 4% drop in revenues for 2012 as a whole to €81.2mn.

We welcome reader discussion and request that you please comment using an authentic name. Comments will appear on the live site as soon as they are approved by the moderator (within 24 hours). Spam, promotional and derogatory comments will not be approved

Post your comment

Facebook, Instagram and Sky case study: Game of Thrones

BT at IBC: 'unlocking the power of fibre IPTV'

IP&TV News tries out 4G Broadcast at the FA Cup Final

Thomas Riedl: “Google TV has evolved into Android TV”

Tesco and blinkbox: what went wrong?

Reed Hastings and 2030: is he right?