YooMedia plc is to acquire a majority stake in Fresh Interactive Technologies, a leading Spanish interactive television company. YooMedia has agreed to acquire  95.2% of the issued share capital of Fresh I.T., and has conditionally raised 12.9 million, following a share consolidation and restructuring.
The combined businesses had revenues of 64m in 2006. It is intended that the new company, which will have 100 employees and operate out of London, Madrid and Exeter, will be renamed Mirada plc.
Fresh I.T. specialises in interactive digital television throughout Europe, including the development and creation of advertising formats in the sector. Its customers include Digital+, Euskaltel and Jazztel in Spain; BSkyB, ITV and Music Choice
in the United Kingdom; and Disney Television International, Universal Studios
Network and Warner Bros. YooMedia says the companys services will complement its own current offerings, which include mobile marketing, interactive gaming and interactive TV.
Both YooMedia and Fresh have track records in developing and delivering products and services that produce transactions and interactions with consumers on behalf of content owners, major brands, broadcasters and platform operators. The company says that Mirada will lead innovation and growth in expanding digital media sectors in its core home markets of the UK and Spain, and will extend into other markets.
YooMedia CEO Neil MacDonald will become Miradas Chief Operating Officer, and Fresh I.T.s Chief Executive, Jos-Luis Vazquez will become CEO. Current YooMedia Chairman, Michael Sinclair, will remain in that role for the merged company.