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OMG’s £2m Mobile
Video deal

By Paul Driscoll on August 20 2008

Oxford Metrics Group (OMG), a provider of image understanding products for the entertainment, defence, life science and engineering industries, has announced that Yotta, the company's 3D mapping division has acquired US-based data collection services provider, Mobile Video Services (MVS).

The deal was valued at £2 million.

According to OMG, the acquisition is likely to facilitate the growth of Yotta's 3D mapping business in North America, and would enable OMG to meet its objective of expanding its business in the market.

The acquisition comprises an initial consideration of £1.25 million; £750,000 will be paid in cash by OMG, and £500,000 worth of shares. The companies say that the initial cash consideration is subject to an adjustment for the closing net assets position.

In addition to helping OMG enter the highway survey and mapping market, it will also enable them to expand data collection services in the property tax assessment market.

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Acquisitions International is part of BCMS Corporate. BCMS was formed in 1987 by the current owners, Brian, David & Stephen Rebbettes.

In the early years BCMS was involved in establishing joint ventures and trading partnerships. Over the last decade however, BCMS has become a world leading specialist in the sale of privately owned businesses.

The nature of the work BCMS was carrying out led to huge spin off demand from the acquirer. As a result, BCMS built up a strong track record of acquisition work as well as disposal. In August 2003, the decision was taken to actively market an already proven acquisition head hunting service. Headed up by Dr Mike Sweeting, from the Northern office, Acquisitions International was launched.

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