Investment minnow Brainspark is taking 10 per cent of Italian multi-media outfit Filmmaster Television and plans two more deals.

Investment minnow Brainspark is taking 10 per cent of Italian multi-media outfit Filmmaster Television and plans two more deals.

Chaired by Italian scientist and entrepreneur Francesco Gardin, AIM-quoted Brainspark is exercising an option to take the stake in Filmmaster, which specialises in mobile telephones with video interaction for TV shows. Under the deal, Brainspark is paying £136,000 cash and £624,000 in its own shares to Filmmaster’s Giuliano Borsari, who thus will emerge with 17.6 per cent of the enlarged Brainspark.

Analysts believe Gardin has at least two more deals in mind and suggest a further equity issue could be involved. The Filmmaster deal follows a move into northern Italian theme parks.