Spike strengthens multimedia offerings

Spike strengthens multimedia offerings

Spike has acquired Web developer and heavy media production company New Toys for $1 million in cash and 1.38 million Spike shares, it was announced yesterday.

Three-year-old Web developer New Toys specialises in Web streaming of audio and video, film broadcasting and television and has big-name clients such as the Australian Army, Aristocrat, Andersen Consulting and Canon.

Under the deal finalised last week, the two will retain their separate brands but reports say Spike may move and join New Toys in Pyrmont.

Commenting on the buyout, Tim Seager, managing director of New Toys, said: "It's a good fit."

Both Spike and New Toys have complementary skills, he said. For Spike the deal looks to be a profitable one as New Toys has doubled its revenues year on year.

"This financial year we'll turn over between $4-5 million and the forecast for the next is double that again," Seager said.

The acquisition gives Spike a wider skill base in which to reach its target market -- youth -- and the two companies will be working on projects together in the future.

One project yet to be signed off is a live Web-a-thon for Canteen, the teenage cancer charity. It will be relayed to a big screen in Australia Square and will feature two celebrities.

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.


ARN Innovation Awards 2022

Innovation Awards is the market-leading awards program for celebrating ecosystem innovation and excellence across the technology sector in Australia.

EDGE 2022

EDGE is the leading technology conference for business leaders in Australia and New Zealand, built on the foundations of collaboration, education and advancement.

Show Comments