A factual media group co-founded by Bob Geldof has bought a video production company that produces content for organisations, such as Nike, Sage, the NHS and the Prince’s Trust.

Ten Alps Plc, which has TV, radio and Internet operations, bought Twenty First Century Media to strengthen its online video production business that started operating in November.

Ten Alps paid £200,000 on completion, but the cost of the deal could rise to as much as £750,000. The agreement includes further payments in the next two years if profit targets are met.

Twenty First Century will operate within Ten Alps’ communications division, which is led by chief executive Adrian Dunleavy.

He said the group sees video production as a growing market. “We’ve witnessed strong increases in demand for our video propositions in recent months across the B2B and public sectors.

“We are only scratching the surface of a potentially huge market and we welcome the additional resources and capacity that Twenty First Century Media will bring to us,” he added.

London-based Ten Alps makes programmes for the BBC and Channel 4 as well as operating Teachers TV. It also runs the local authority-funded broadband service Kent TV and has 740 titles in its contract publishing portfolio covering the financial, environment, health and international trade sectors.

Twenty First Century Media is based in Newcastle upon Tyne with offices in Glasgow, Leeds and London.