YooMedia PLC is in discussions to acquire the Digital Interactive Television Group and The Gaming Channel.
The company requested that their shares be suspended temporarily from the Alternative Investment Market of the London Stock Exchange when the potential acquisition became known. The terms of the proposed deal to acquire the issued share capital of the two companies would constitute a reverse takeover and remains conditional on completion of appropriate financing and shareholder approval.
YooMedia describes itself as one of the fastest growing interactive television companies in the UK. It recently acquired MMTV, which holds the contract to deliver the NHS Direct interactive television service. The business also includes the fixed-odds bingo-style gaming company FancyaFlutter.
DITG is an interactive broadcaster and solution provider and runs its own channels including Avago and iSportsTV through The Gaming Channel.
YooMedia and DITG were unable to comment on the news in advance of a formal announcement.