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Portugal’s Novabase has sold 100 per cent of its subsidiaries Novabase Digital TV and DTV Research, as well as 49 per cent of Novabase Digital TV, to Russian pay-TV group General Satellite.
According to Novabase, these transactions represents the “culmination of the plan established for the incubation of the Digital TV/SIP (System-in-Package solutions) in the area of venture capital”, allowing the application of the resources made available in the development and internationalisation of its core business.
The total value of share transfer was €5 million, of which €3.4 million refers to Novabase Digital TV, €1.5 million to DTV Research and €25,000 to Novabase Digital TV.
Following the transaction, Novabase will have an overall positive impact of €293,000 in its consolidated accounts for 2013, plus cash inflow of €6 million.