Netgem, the French company that specialises in set-top boxes for DTT, IPTV and web access, has said it will buy the on demand and online DVD rental company Glowria from the original investors, Seventure (Groupe Natixis), Crédit Agricole Private Equity and Mousse Partners.
The deal values the venture between €17.7 – 18.9 million and is, according to French sources, being paid in shares, which amount to about 14% of Netgem’s stock. Glowria was launched in July 2006 and offers about 2,000 on-demand titles from Warner Bros, Sony Pictures and Paramount.
