Deal: Access Innovation Holdings Limited (Ai-Media) has acquired EEG Enterprises Inc (EEG).

Value: US$34 million.

Area: M&A.

Key players: The legal team advising Ai-Media was led by Norton Rose Fulbright corporate M&A partner Ben Smits and supported by his local Australian team comprising partner Jeremy Wickens, special counsel Peter Moh, senior associate Adam Hunter, associates Joyce Shi and Henry Yuan and with assistance from the firm’s New York team including partner Michael Flamenbaum and senior associate Ryan Waggoner.

Deal significance: Ai-Media is a global provider of technology-driven live and recorded captioning, transcription and translation services, which was founded in Australia in 2003. From then to now, the company has become the biggest captioning provider in the Australian market, with clients including major free-to-air and pay television networks, and has a growing international footprint, with offices in Australia, the US, UK and Canada.

Globally, it provides captioning for around 1 million minutes of live and recorded media content, online events and web streams, every month, a statement from Norton Rose Fulbright explained. 

Meanwhile, EEG Enterprises is a US-based video and captioning technology company that focuses on cloud-based workflow products for closed captioning, accessibility and data processing applications.

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“The acquisition of EEG will establish Ai-Media as a vertically integrated provider of captioning technology, with a full suite of products to accommodate customer requirements,” the statement from Norton Rose Fulbright confirmed. 

“The acquisition of EEG is the fifth transaction on which Norton Rose Fulbright has supported Ai-Media recently, across capital raisings and acquisitions in Australia and the United States.

“This deal continues Ai-Media’s strong growth trajectory in the caption technology space following their 2020 listing on the Australian Securities Exchange, particularly in the North American market and demonstrates Norton Rose Fulbright’s long-term support and partnering.”

Commenting further, Norton Rose Fulbright partner, Mr Smits said: “We are delighted to support Ai-Media on its ongoing series of strategic acquisitions in the North American market, the latest with EEG being one of the most substantial undertaken to date.

“Ai-Media’s products and services create access to world class content for those who speak other languages, and those with disabilities and additional needs.

“We are delighted to be part of that journey with Ai-Media to combine astute commerce and deal-making with responsibly expanding access channels for a wider section of society.”