QMS Media (ASX:QMS) is set to acquire the majority interest of TGI Systems Corporation (TGI) and TGI Europe as it continues to expand its existing sports technology and media rights business, QMS Sport.
The key commercial arrangements include a total investment by QMS of approximately $40 million to acquire a 90 per cent stake in TGI and TGIE, both internationally recognised sports media companies providing digital technology solutions across the USA, Europe and South America.
Another strategic shareholder will hold 5 per cent of the entities, while existing key management will also retain 5 per cent.
TGI/TGIE are at the forefront of virtual signage technology developments.
Shares in QMS Media (ASX:QMS) are down 0.72 per cent to $1.03