Broadcast Solutions Group Acquires Lithuanian Systems Integrator TVC

Broadcast Solutions Group Acquires Lithuanian Systems Integrator TVC posted: 26/10/2020

Stefan Breder (CEO Broadcast Solutions), Ramunas Dirmeikis (CEO TVC), Wladislaw Grabowski (COO Broadcast Solutions)

With the acquisition that was completed on 22 October 2020, TVC Solutions UAB with Managing Director Ramunas Dirmeikis became a wholly-owned subsidiary of the Broadcast Solutions Group. TVC's focus areas overlap only slightly with those of Broadcast Solutions and to a large extent, complement the activities of the German systems integration company. In the Baltic region and the CIS countries, in particular, Broadcast Solutions is now strengthening its presence with the takeover of TVC, thus being able to offer an even more extensive array of solutions as well as further reinforcing service and support. Although fully integrated into the Broadcast Solutions Group, TVC Solutions UAB will act as an independent entity and under its given name.

Stefan Breder, CEO of the Broadcast Solutions Group, comments: TVC's business strategy with approx. 60% of fixed media installations and 40% of OB vehicle construction perfectly complements and mirrors the development and strategy of the Broadcast Solutions Group. We welcome Ramunas Dirmeikis and the entire TVC team as part of the Broadcast Solutions Group, and we are looking forward to successful cooperation.

Ramunas Dirmeikis, CEO of TVC, adds: We are very pleased to be part of the Broadcast Solutions Group and to support the Broadcast Solutions team with our experience.

Tomas Andriu kevi ius, a partner at Practica Capital, one out of five selling shareholders of TVC, relates: We are very happy how TVC has developed over the years and now has become a worthwhile part of such an industry leader as Broadcast Solutions Group.

Founded in 2003, Broadcast Solutions have remained true to its initial goals and aspirations while having an appetite for growth and seeing new horizons. During the last 17 years, the broadcast technology industry has matured, and a large degree of consolidation has taken place. Many small but also significant systems integrators have disappeared from the market. With TVC and Broadcast Solutions joining forces, the two companies are good examples of entities which have developed and grown successfully and hence are looking forward to a mutual and commercially successful future.

About TVC Solutions UAB

TVC is an independent systems integrator, with clients mostly from across Europe and occasionally from Africa, the Middle East and Asia. Among its regular works are systems design, equipment supply and integration of Television and Radio studios, Master Control Rooms, Playout Systems, Newsrooms and Archiving solutions. A particular focus area is Outside Broadcast Vehicle projects and special Measurement Vehicles.

A team of over 50 employees, consisting of engineers, project managers and a specialised manufacturing team, provide the expertise and flexibility to TVC services that are the basis for meeting and exceeding customer expectations.

TVC is primarily a project-based organisation customised to deliver broadcast projects with utmost attention to details.

About Practica Capital

Practica Capital manages three venture capital funds ( 52M in total) investing in Baltic early stage ventures and high growth SMEs that have an ambition to become regional and global players. Two earlier funds were established in 2012 under the JEREMIE initiative in Lithuania which is administered by the European Investment Fund (EIF), Ministry of Economy, Ministry of Finance and funded from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme of Lithuania. The third fund launched in 2018 is implemented from the Business Financing Fund, a fund of funds established by the Ministry of Economy together with the Ministry of Finance of the Republic of Lithuania, funded by the European Regional Development Fund (ERDF) under the 2014-2020 Operational Programme for the EU Funds' Investments in Lithuania and managed by Invega.

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