Published in the Daily Express, September 2010
Around 18 months ago TV production investment outfit Motive Television was forced to close or sell most of its business.
Now, after a major change of strategy, it is using a £4.75million fundraising on Aim to transform itself into a global player in digital television.
Motive was founded in 2005 by Mick Pilsworth and floated on Aim in 2006. It went on to make a string of five acquisitions – including a major stake in Brown Eyed Boy – until the credit crunch derailed its investment plans.
Pilsworth said: “The timing was wrong. We didn’t have enough cash and then we hit the recession.” Last year Motive decided to start afresh, selling Brown Eyed Boy and closing three other companies.
The decision to move into digital followed a chance meeting between Pilsworth and American TV strategist Len Fertig.
He was fresh from a meeting with Spanish firm Adecq Digital, whose software allows broadcasters to provide video on demand over a normal terrestrial aerial. Adecq had deals in Spain and Italy, but was looking for backers with TV industry connections.
After being signed up as chief executive, Fertig inked a global distribution deal with Adecq. Now Motive is using its Aim funds to buy 67.7 per cent of the company, which has launched its services in Hungary and the Czech Republic.
Motive, which has been advised by Merchant Securities, has also bought Scottish firm NXVision, whose software allows users to watch TV on their mobile phones.