Print marketing firm Communisis has bought video and film production specialist Jacaranda Productions for £1.5m.
Communisis, which has operations in Leeds, said Jacaranda’s expertise in measuring the effectiveness of video content for global brands will add useful skills and expertise to support its strategy.
For over 15 years Jacaranda has been voted in the top ten independent production companies in Televisual’s annual Corporate Top 50 awards and has won over 250 creative awards including The Digital Impact Awards, Cannes Corporate Media and TV Awards and New York Film and TV Awards.
The acquisition will be funded by cash of £900,000 and through the issue of 913,242 new ordinary shares in Communisis to the value of £600,000.
A further consideration of up to £500,000 in cash may be payable dependent on the gross profit generated in the three years after the acquisition.
For the year to February 28, Jacaranda made earnings of £390,000 on turnover of £1.6m.
In a separate deal Communisis also bought digital media business Public Creative for £350,000.
Public Creative creates and drives brand awareness with digital media using web and mobile applications to build loyalty. It made annual earnings of £50,000.