Novramedia, Inc. sells digital media solutions business to Stingray Digital Group Inc.

November 9, 2018

On August 1, 2018, Novramedia, Inc. (“Novramedia”) sold its digital media solutions business to Stingray Business, the commercial services division of Stingray Digital Group Inc. (“Stingray”) (TSX: RAY.A, RAY.B), which provides multiplatform music, video services, and digital experiences at a global scale. The acquisition supports Stingray’s business plan and growth strategy by consolidating Stingray’s presence in Canada.

Novramedia is a Toronto-based company that manufactures and develops its own software and hardware for a variety of digital media solutions, and provides services in design, development and implementation.

Miller Thomson advised Novramedia in this transaction, with a team comprised of Tom Koutoulakis, Phil Long and Jay Sernoskie (Corporate/M&A), and Boris Muchalov (Financial Services).