Nstein Technologies acquires Picdar, dominant provider of picture and digital asset management in UK
Nstein Technologies Inc. www.nstein.com (TSX-V: EIN), a leader in online publishing solutions for newspapers, magazines and online content providers, today announced that it has acquired Picdar, dominant provider of picture and digital asset management in UK. Established for over 20 years, Picdar provides Digital Workflow and Asset Management (DAM) solutions to newspapers, magazine and corporate publishers. Picdar has built a reputation of technological innovation and outstanding customer support, helping major publishers such as Associated Newspapers, The Financial Times, Independent Newspapers, The Telegraph, The Guardian, Trinity Mirror, IPC and Condé Nast steer into the digital age.
Nstein’s momentum continues – the Company consolidates its position in UK and Europe as a leader of online publishing solutions
Highlights
- Complementary solutions – clients of both companies now have access to a full suite of solutions for integrated online and print publishing and content management
- Expanded client base – Picdar’s 50 prestigious clients including Associated Newspapers, Trinity Mirror, The Telegraph and The Guardian combined with Nstein’s UK client roster such as BBC and News International represent an unbeatable portfolio of leading UK media and publishing clients
- Picdar’s CEO, Lesley Steinitz, to helm Nstein’s UK operations as Director of Operations (UK) and Picdar’s CTO, Andy Heather, appointed VP Worldwide Publishing
- Enterprise value ranging between $6,595,000 and $9,245,000 (3,375,000 to 4,730,625) contingent on meeting future revenues and EBITDA targets – paid through a combination of cash and shares