OpenTV to acquire Static for $59 M
OpenTV agreed to acquire Static, a privately held ITV media and entertainment company in London, for about $59 million.
Under the stock-and-cash agreement, OpenTV will get all of Static's stock, although about 14 percent of the gross deal value, in ordinary shares, will be held back for certain earn-out provisions, OpenTV reports.
For its part, Static shareholders will receive about 2.6 million shares of OpenTV's Class A shares and about $17 million in cash.
The deal brings OpenTV the PlayJam ITV entertainment and games channel, which presently reaches more than 9 million homes, on several networks and platforms.