Boomerang Plus, a Cardiff-based television production group, has acquired local rival Indus Films for £1.1 million in cash.
Boomerang Plus, a Cardiff-based television production group, has acquired local rival Indus Films for £1.1 million in cash.
The deal will broaden Boomerang’s portfolio to include adventure, environmental, history and arts programmes. The founders of Indus, Steve Robinson and Paul Islwyn Thomas, will remain with the business. For the year ending June 2008, Indus generated turnover of £5.3 million.
Steve Robinson, director of programmes at Indus, said: ‘We have a strong track record in making high-quality, award-winning programmes to the UK and US networks. The partnership with Boomerang will allow us to continue to grow and make the most of the opportunities coming to Wales in the future.’
Boomerang reported an increase in revenue of 9.4 per cent to £11.76 million in the six months to November 2008, while pre-tax profits were up 15.2 per cent to £1.1 million.
