Red Bee Media acquires Australian caption centre

Red Bee Media, formerly BBC Broadcast, has announced the acquisition of the Australian Caption Centre (ACC), the Australian subtitling (captioning), language translation and video services company, marking Red Bee Media’s first international acquisition.
Red Bee Media will acquire ACC for $AU7.5m (£3.2m) and will use existing debt facilities to fund the acquisition. The transaction is expected to be completed by the end of this year.
Established in 1982, ACC is one of the largest subtitling companies in the world, providing access services for the major Australian television broadcasters; major advertisers and their agencies; video and DVD distributors; subscription television channels; and conferences in Australia and overseas.
With offices in Sydney, Melbourne, Brisbane and Perth the company provides access services to clients in Australia, North America, Europe, Asia and Oceania.
Following the sale, Robert Scott will continue as CEO of ACC and employees will be offered continued employment.
Pam Masters, CEO Red Bee Media, said: “ACC is a profitable and reputable business that perfectly compliments our business. Red Bee Media will benefit through the expertise in ACC while at the same time ACC will benefit from the innovation and technology in Red Bee Media. I am delighted to welcome Robert Scott and the extremely skilled team at ACC to Red Bee Media."
Masters continued: “This acquisition delivers on our strategy to expand into international markets and demonstrates our new owner’s support for our growth.”
(GB)