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).
