British Sky Broadcasting (BSkyB) agreed to acquire set-top box designer Amstrad PLC for GBP125 million in cash.
In the agreement, BSkyB subsidiary Sky Digital Supplies will acquire all shares of Amstrad 150 pence, a 23.7% premium to Monday's closing price.
The company has already received acceptance of its offer from shareholders representing 44.8% of outstanding shares.
Amstrad is a major supplier to the Sky Group, accounting for 30% of the set-top boxes purchased by the company in its fiscal year 2007.
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.