Village Roadshow invests $1M in Linius

Company News

by Roma Christian

Village Roadshow Limited (ASX:VRL) has invested $1 million via the private placement of ordinary shares, to Linius Technology Limited (ASX:LNU) for its anti-piracy solutions.

The entertainment company says they intend to introduce the technology to industry leaders, in the hope to fight global piracy.

Village Roadshow says it has followed Linius’ story closely, and can see many applications for its technology across the video industry.

The investment is accompanied by a $500,000 private placement by the Kirby family, who is affiliated with Robert Kirby. Mr Kirby is Village Roadshow’s Co-Executive Chairman & Co-CEO.

Shares in Village Roadshow Limited (ASX:VRL) are currently trading 1.01 per cent higher to $4.00.