STRONG GROWTH PROMPTS FURTHER INVESTMENT IN AUTOCUE GROUP
Posted on Friday, April 9, 2010
LAS VEGAS, NAB 2010 Stand C.9921 – 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.”
Autocue Group will be demonstrating their full range of products and services at Stand C.9921 at NAB.
For further information (product images and company logos available upon request) please contact: Richard Satchell, Autocue/ QTV, Tel +44 (0)208 665 2992, firstname.lastname@example.org.
About Autocue Group
Autocue and QTV have been serving the broadcast industry since 1955. These two household names are part of the Autocue Group, the only organisation to offer the broadcast industry a sole source for scripting, newsroom, prompting, presentation, production and automation solutions. We have installed thousands of systems across the world, with customers including traditional broadcasters like Bloomberg, CNN, BBC, MTV, TF1, MBC and Doordarshan, and government, corporate and academic institutions such as the White House, Oman Ministry of Information, Bank of America, and Arkansas State, Lincoln and Salford universities. See www.autocue-qtv.com for more details.
About Root Capital
Root Capital was formed in late 2002 to provide Operational Private Equity in the UK technology, support services and media sectors. The partners are Simon Philips, Mike Danson and Simon Pyper, who collectively have many years of experience as entrepreneurs, managers, investors and advisors, with a track record of successful business turnarounds and start-ups. Root's funds are provided by the partners and associated family trusts with access to over £200 million of capital. See www.rootcapital.co.uk for more details.
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