The acquirer, a leading provider of private equity for mid-market European buy-outs, will complete the purchase after shareholder approval.

The deal consists of £52 million cash on completion and a loan of £5 million, payable after five years from completion or at the exit of the business by GMT, whichever is sooner.

A further loan note is payable on a pro rata basis of up to £5 million, depending on Primesight achieving agreed target profits for the end of this year. The loan is also payable at the earlier of five years from completion or an exit of the business by GMT

In its audited accounts for 2006, Primesight generated revenues of £23.3 million and ebitda of £4.5 million.

During the past 15 years, GMT has invested in 26 companies in 18 countries and completed more than 100 transactions, exclusively in European media/communications, with a gross value of €3.2 billion (£2.16 million).