Seeking to more tightly integrate its radio and television services, Radio Computing Services (RCS) recently invested in Florical, a Gainesville, Fla.-based broadcast automation and asset management provider. NY-based RCS develops broadcast traffic software used by more than 7,000 radio and television customers worldwide. Financial terms of the deal, which was signed in June, were not disclosed.
"We had been searching for the perfect company to help broaden RCS software capabilities for years," said RCS President Philippe Generali. "Florical not only complements our products and services perfectly but the Florical people also share our vision, values and dedication to quality assurance."
Florical's President Jim Moneyhun said the strategic alliance while allow the company to expand worldwide sales. "We're doing well in the U.S. market and wanted to expand rapidly," Moneyhun said "Last year was our best year, most profitable."
At this point, both Florical and RCS will retain their company names but RCS now owns a greater stake of Florical. The deal is a combination of cash, use of office space and some stock exchange. The management structure and Florical's board of directors will remain the same, and the agreement has allowed the company to take on more employees, according to Moneyhun.
"The intent is to put a pretty large organization together," Moneyhun said
He also said that both companies are expanding their European presence and Florical make its first appearance at IBC2004, showcasing multichannel logging and monitoring technologies.
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