Miranda has announced that it has entered into an agreement to acquire privately-held VertigoXmedia and its broadcast division for purchase price of approximately $10 million. VertigoXmedia is a Montréal-based manufacturer of high-end graphics automation software and systems. The transaction is expected to close in early May.
The transaction would allow Miranda to add a software workflow and graphics capabilities to its existing playout branding products. In addition, the VertigoXmedia graphics platform would provide Miranda with a new product range for the automated presentation of live graphics.
The digital signage division, which is excluded from the transaction and which employs 10 people, will be spun-off in a new entity independent of Miranda, prior to the acquisition.