Qvest Media acquires new majority shareholder
WORLD: The RAG-Stiftung (RAG Foundation) is the new majority shareholder of Qvest Media Group as it acquires a large number of shares from the company’s founders, Gunnar Wellen and Peter Nӧthen, through its investment company RAG-Stiftung Beteiligungsgesellschaft mbH. The acquisition is scheduled to be completed at the end of September and is subject to approval by antitrust authorities. In addition, the shareholdings will include all subsidiary companies of the Qvest Media Group in Germany, the United Arab Emirates and Singapore. Qvest Media Group plans to continue its international growth and open up new business areas through the new partnership.
‘Digital networking is one of today’s social mega-trends and is reflected in the rapid rise of web applications and new media,’ commented Dr Helmut Linssen, financial director of the RAG-Stiftung. ‘Investing in promising sectors for the future is a part of our long-term portfolio strategy. With Qvest Media, we are taking another important step forward and are delighted to be investing in a global business that, like us, has its local base in North Rhine-Westphalia’.
Qvest Media is currently involved in over 60 international technological projects, implementing audio, video and IT-supported production and distribution systems, and sees significant room for potential growth.
‘Digital networking already pervades large parts of our lives today,’ explained Peter Nӧthen, CEO of Qvest Media. ‘Consumers expect to be able to access online media content from anywhere, at any time and from multiple sources. This increasingly important interplay between new technologies, systems and providers requires an experienced partner like Qvest Media. Important issues that are a particular focus for our customers include video-on-demand and over-the-top services, which large providers are already offering successfully. We continue to be heavily involved with artificial intelligence for media analysis and media data management, as well as the digital utilisation, distribution and commercialisation of content. With the RAG-Stiftung by our side, we will further develop these new business areas and actively address new markets.’