Cinedigm has signed on the dotted line to buy US-based content distributor and streaming channel company the Film Detective for an undisclosed sum.
The deal remains subject to the signing of definitive documents and the completion of due diligence, as well as customary closing conditions.
Launched in 2014, Film Detective streams a range of classic film and television programmes through platforms such as Turner Classic Movies, EPIX, Amazon and MeTV.
Its library houses over 3,000 movies across the horror, mystery and family genres, among others, and includes the likes of House on Haunted Hill, Gulliver’s Travels and Fog Island.
Through the deal, the buyer will add 10,000 individual film and TV episodes, as well as two free-advertisement-supported-television linear networks, to its streaming content portfolio.
Furthermore, Cinedigm will pick up two new streaming channels, namely the Film Detective and Lone Star.
Upon closing, the target will continue to be led by its founder, Philip Hopkins, under the acquiror’s umbrella.
Erick Opeka, president of Cinedigm Networks, said: “This deal greatly enhances our mission of providing channels, content and technology to the world’s leading streaming services and platforms.”
The buyer plans to expand the distribution of Film Detective’s two platforms across its network of more than 820.00 million consumer devices.
As a result, the streaming companies will be able to use Cinedigm’s technical and operational resources to launch several new genre channels in the coming quarters.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 8,786 deals targeting data processing, hosting and related services providers announced globally in 2020 to date.
Teladoc Health agreed to buy US-based Livongo Health for USD 18.50 billion in the largest of these.
E*Trade Financial, Ellie Mae Intermediate Holdings I and GrubHub, among other companies, were also targeted in this sector.
© Zephus Ltd