PRIMESIGHT SOLD TO INVESTMENT CAPITALIST FIRM, GMT

Following a year long sale process, SMG recently announced the sale of Primesight to investment company, GMT Communications. The deal was reached as part of a leverage buyout in conjunction with the senior management team at Primesight.

The sale, which commenced on 13th September 2006, included presentations to over 20 different companies including both Trade & Private Equity.

A final agreement with GMT was reached at the end of August resulting in shareholder approval on Monday 15th October 2007. The Primesight management team have invested in the company and together with GMT, have agreed a business plan.

GMT Communications are an independent company who invest in development capital & buyouts up to €500 million in value. They are Europe’s longest established private equity specialist in the Communications arena, and have 25 investments across 17 countries in Europe as well as 11 acquisitions.

GMT also have extensive experience in the Media, Internet & IT sectors, & own two Outdoor advertising companies in Spain - Redext & Equipamientos Urbanos.