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September 2010 – Deluxe in talks to buy the UK division of facilities giant Ascent Media

Deluxe is in talks to buy the UK division of facilities giant Ascent Media – a deal that would almost certainly create the biggest single player in the UK facilities market.
The European division of the US-headquartered Deluxe Entertainment Services Group bought subtitling and content management facility ITFC last week, and has now set its sights on Ascent. The combined companies’ turnover would be well in excess of £100m.
An insider told Broadcast that Ascent had been quietly “on the shelf” for a while, but that the deal with Deluxe was still at a relatively early stage. It is thought other bidders could emerge.
A spokesperson for Ascent Media said: "I cannot confirm or deny anything.”
According to figures from a 2008 audit, Ascent Media Limited in the UK has a Net Worth of £44m and employs more than 800 people in the UK. It is part of the worldwide Ascent Media Corporation.

Thomas Dey, CEO of About Corporate Finance which worked on the sale of ITFC alongside Grant Thornton, said a deal between the two would make sense. “Deluxe would make a great acquirer as it would begin a wealth of technological advancement as well as financial backing to the party.”

Deluxe owns both the former Rank Film Laboratories and Deluxe Digital London.
BY:
Lisa Campbell
Editor
Broadcast
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