Ascent Media announced today that it has signed an agreement to sell its successful subtitling business, Visiontext, to SDI Media, the world’s leading subtitling and language dubbing provider, by the end of this month. This deal will mark the start of a long-term strategic relationship between the two companies.
Acquired by Ascent Media in 2000, Visiontext, which operates from offices in the United Kingdom and Los Angeles, is a leading provider of subtitling, closed-captioning and other services for feature films and television programming worldwide. Visiontext is also the leading supplier of subtitles for the deaf and hard of hearing in the UK commercials market. After the acquisition, SDI will continue to service Visiontext’s existing customer base.
“This sale is a first step toward creating a strategic alliance with SDI Media,” said Jose Royo, CEO of Ascent Media Group. “Over the long-tem, we will build on this foundation to bring greater value to all our clients.”
“As a thriving brand, Visiontext will strengthen SDI Media’s position as market leader,” said Maggie Nuttall, Managing Director, Visiontext. “Our clients will also benefit tremendously from this move to SDI Media and their extended relationship with Ascent Media.”
SDI Media, owned by private equity firm Elevation Partners, is the world’s leading provider of subtitling and language dubbing services to the entertainment industry. With major operations in Europe, Asia and North America, SDI has the capability to provide any language version for all distribution formats (e.g. DVD, Broadcast, Theatrical, Interactive Games, and the Internet).
About Ascent Media Group:
Santa Monica, California-based Ascent Media Group, LLC is a wholly-owned subsidiary of Ascent Media Corporation (Nasdaq: ASCMA), which provides creative and technical services to the media and entertainment industries. Through more than 40 facilities in regions of Southern California, New York, Atlanta, London and Singapore, Ascent Media provides effective solutions for the creation, management and distribution of content to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies and other companies that produce, own and/or distribute entertainment, news, sports, corporate, educational, industrial and advertising content.
About SDI Media Group:
SDI Media Group is the market leader in providing translation services for the media and entertainment industry. SDI translates movies, TV shows, commercials, trailers, interactive games, and other multimedia content in over 60 languages and in all distribution formats. SDI counts the world’s leading media and entertainment companies among its extensive client list and is the only company of its kind with subtitling and dubbing operations in Europe, Asia and the Americas. SDI is headquartered in Los Angeles, CA and operates in 32 countries worldwide.
SDI Media Group is owned by Elevation Partners, a $1.9 billion private equity firm that makes investments in market leading media, entertainment and consumer related businesses.
