Ascent Media announced Monday that it has signed an agreement to sell its Visiontext subtitling business to SDI Media, a leading subtitling and language dubbing provider, by the end of this month. This deal will mark the start of a long-term strategic relationship between the two companies.
Terms of the deal weren’t disclosed. Ascent Media, which provides services to media and entertainment companies, originally bought Visiontext in 2000. Visiontext, which operates from offices in the U.K. and Los Angeles, provides subtitling, closed-captioning and other services for feature films and television programmers.
“This sale is a first step toward creating a strategic alliance with SDI Media,” Ascent Media CEO Jose Royo said, in a statement. “Over the long-tem, we will build on this foundation to bring greater value to all our clients.”
L.A.-based SDI Media is owned by private equity firm Elevation Partners.