QMS Media to buy majority of TGI Systems

Company News

by Rachael Jones

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Last Updated: 19/06/2019 3:24 PM

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

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.