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Business

Pay-tv firms merge

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 09:25, 22 October 2002

TWO Tunbridge Wells-based hotel pay television firms have merged in a £1.5 million deal. Techlive has bought On Command Europe (OCE) in a deal funded by international business bank Fortis.

The bank is providing loan, foreign exchange and other banking facilities. Both companies install and distribute films, video games, and Internet access into hotel groups across the UK and Continental Europe.

Before the purchase, Techlive owned 30 per cent of OCE, with 70 per cent owned by US-listed On Command Corporation (OCC).

OCC sold its stake following a decision to concentrate on its core market in the United States. But OCE has become a licensed distributor OCC systems in Europe.

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OCC provides interactive in-room entertainment, information and business services to the hotel industry.

Peter Wright, Fortis' regional head of acquisition finance, and Lisa Jessup, assistant director in Kent and Sussex, arranged the deal.

John Vernon, Techlive managing director, said; "The outlook for our business has never been brighter. Today's hotel guests demand an ever more sophisticated choice and range of in-room entertainment."

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