Palamon sells OmniBus for €36.4 million

OmniBus, a UK-based company which develops software for TV broadcasters, has been sold for €36.4 million by Palamon Capital.

OmniBus, a UK-based company which develops software for TV broadcasters and video content distributors, has been sold for €36.4 million (£30 million) by private equity firm Palamon Capital.

The acquirer is Toronto Stock Exchange-listed Miranda Technologies, a manufacturer of hardware and software for the broadcast industry.

Palamon, which acquired OmniBus from administration, changed its business model from providing bespoke software to a more ‘scalable’ offering, according to partner Daan Knottenbelt. The change in strategy was led by Omnibus CEO Mike Oldham.

The flagship product of East Midlands-based OmniBus is a piece of software that enables broadcasters to manage the transmission of live television content in high definition using standard IT systems.

For Palamon, the sale of OmniBus follows a series of exits during this year with total proceeds of more than €200 million.

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary... More by Nick Britton