Vitec Group has acquired SmallHD, a provider of high-definition on-camera field monitors used by broadcasters and independent content creators. Under the terms of the acquisition, the initial estimated cash consideration is $4.6m on a debt/cash free basis. This is subject to certain post-completion adjustments for changes in net assets. Up to a further $25.4m is […]
Vitec Group has acquired SmallHD, a provider of high-definition on-camera field monitors used by broadcasters and independent content creators.
Under the terms of the acquisition, the initial estimated cash consideration is $4.6m on a debt/cash free basis. This is subject to certain post-completion adjustments for changes in net assets.
Up to a further $25.4m is payable in cash dependent on the future profitability of SmallHD. This will reflect performance against demanding EBITDA targets over a two and a half year period to 30 June 2017. The maximum payment would be achieved if SmallHD delivers these targets with an annualised EBITDA run-rate of $9.0 million in 2017.
SmallHD is based in North Carolina, USA. Vitec said the acquisition complements Vitec’s existing video activities, including Teradek, which serves a similar customer base. SmallHD is being acquired from its current management, who will remain with the business, and it will operate as a business unit within the Videocom Division.
