Mijo, a privately held Toronto-based broadcast and digital media services provider, has been acquired by DG, a fellow digital media services provider that is looking to build a worldwide media services platform for broadcast and online advertising.
DG paid $39.5 million for Mijo, a company that reported revenues of $17.4 million, and adjusted EBITDA of approximately $3 million, in 2010.
Mijo provides Canadian, U.S. and multinational brands with a platform of bilingual and integrated media services. It was founded by Joel Reitman and Michael Goldberg in 1978.
“We have spent over 32 years building a business in Canada that provides a suite of diverse and fully integrated services to advertisers, feature film distributors, and broadcasters,” said Goldberg in a release. “This transaction fulfills our goal to gain access to an international audience for this platform.”
It is expected that Reitman and Goldberg will stay with the company, along with its 110 employees.
The acquisition will allow DG to expand its platform across all of North America and to fully distribute its products, such as Treehouse and Pathfire, into the Canadian market, said Neil Nguyen, president and COO of DG.
Mijo’s ability to provide content localization, versioning and value-added production services was part of the appeal for DG and implementing its strategic plan.
DG serves more than 5,000 advertisers and agencies through a media distribution network of more than 28,000 radio, television, print and web publishing destinations located in the United States, Canada and Europe.
