Sportsworld Media Group, the sports TV production, sponsorship and event marketing company, has acquired Infinite Management Solutions Ltd. (IMS) for A$850,000 ($442,000 ), of which A$450,000 ($234,000) will be paid in Sportsworld shares.
A further payment may become payable, depending on the net profits of IMS over the five financial years ending in 2005.
Melbourne-based IMS is an ?action sport/ freesport athlete representation firm, managing and providing athletes for sponsorship opportunities and events.
The acquisition is aimed at creating cross-selling opportunities for a range of freesports-related products, as well as providing freesports athletes for the events organised in the Sportsworld managed stadia.
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