Cavendish

Cavendish advises on the sale of Optimad Media Systems Ltd

Cavendish Corporate Finance is delighted to announce the sale of Optimad Media Systems Limited to Independent Media Distribution plc in a deal worth £3 million. This is the fifth technology/new media transaction closed by Cavendish in 2006. It demonstrates our ability to maximise value across the technology spectrum and our reach out to global purchasers.

Optimad was founded in 1999 and is located in central London. The company operates industry leading systems for the electronic transfer of data between media advertising agencies and media owners via web based services for the television, print and outdoor sectors. CARIA, its television industry service, has been operational since 2003 and processes spot campaign details, agreed between agencies and media owners, for over 80% of UK television advertising revenue. It is in day-to-day use by all TV sales companies for over 300 channels, the majority of media buying agencies and a number of advertisers.

CARIA also connects creative agencies with broadcasters to send instructions about precise transmission requirements for commercials using information derived from media campaign data. Endorsed by the IPA, CARIA is acknowledged as the most successful all-industry administration service for advertising media anywhere and will be rolling out in the Republic of Ireland in early 2007.

Independent Media Distribution plc (''IMD'') is the UK's leading digital distributor of advertising, music and music video to radio and TV. In purchasing Optimad, IMD's aim is to create the UK's definitive advertising media logistics business. The combined group is looking to benefit from Optimad's continuing growth, merger savings and new services introduced as a result of the integration of the two companies' complementary businesses.

[Raymond Fagan], lead Cavendish Director on the deal and head of technology, commented: "We had considerable interest expressed by potential buyers of Optimad, including from some of the world's largest media and internet companies. In the end we chose to run with IMD as they could utilise and further develop the potential of the CARIA product, and were able to offer the shareholders of Optimad a satisfactory price, within an agreed timetable and an attractive career path for the key management team."

Cavendish contacts for further information:
[Raymond Fagan], Director
[Michael Jewell], Executive

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