Miranda Technologies is acquiring privately held VertigoXmedia and its broadcast division. The total purchase price is approximately $11 million, payable in cash.
VertigoXmedia has been in the broadcast and digital signage businesses for nearly 10 years, operating predominantly in North America. Under the terms of the agreement, the 25 employees of VertigoXmedia’s broadcast division will join Miranda. 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.