STRONG GROWTH PROMPTS FURTHER INVESTMENT IN AUTOCUE GROUP

Date: 23/04/2010
Root Capital has invested and committed over $1 million to Autocue Group - the holding company of Autocue and QTV broadcast brands - to fund further product development and entry into new markets. Root Capital is now the sole owner of Autocue Group and is backed by the Autocue Group's Chairman, Simon Philips, and new investors with significant media interests.
 
This investment follows a consistent period of profit growth for Autocue Group and reflects the future growth potential of the business. Commenting on the investment, Simon Philips said, "We've been impressed with the Group's performance over the last few years – by demonstrating consistently strong profit growth it has bucked the trend within the broadcast industry. They have a strong management team, with a clear vision and an exciting growth strategy, and Root is looking forward to working with them to build on their success to date."
 
Root Capital's new financial commitment will fund the Group's growth strategy over the next two to three years, including:
 
  • Strengthening its R&D team to continue developing cutting edge solutions for the broadcast sector, e.g. building on the success of its IP-based QMaster/ QBox prompting system;
  • Adapting existing technologies to exploit new markets outside of the traditional broadcast sector, e.g. education, corporate and religious institutions, with solutions such as the Starter Series entry-level prompting range
  • Boosting its marketing resources to maximise the impact of its investment in product development
 
Autocue Group CEO Frank Hyman said, "Root's new backers bring with them a great deal of media expertise and resources to help accelerate the Group's future growth. Together with the additional investment, this provides us with all the support we need to achieve our growth objectives - doubling revenues and tripling profits in the next two to three years."


Tags: root capital | autocue | finance | qtv
Submitted by TV-Bay

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