Beyond International acquires DVD distributor

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The entertainment group Beyond International has completed a deal to acquire the DVD distributor Magna Pacific.

For AUD$4.3 million in capital, Beyond will take on all the assets of the firm, which holds the rights to popular programmes such as the Crocodile Hunter, American Chopper and Teenage Mutant Ninja Turtles.

During the acquisition, Magna may have benefited from using an Ansarada virtual data room, which allow for the secure tracking of document usage and can help increase competitive tension between bidding parties.

A spokesperson for Beyond said: "With this acquisition Beyond is significantly expanding its Australian/New Zealand home entertainment business and the consolidation will enable the operation to attain a scale that will lead to cost rationalisation across this business segment."

They added that the company would require no additional bank lending to complete the deal.

Elsewhere in Australia, the telecommunications group Telstra has finalised the acquisitions of mobile phone content group China M and online music firm Sharp Point.