Transol buys into Digistore International

Transol buys into Digistore International

Transol (ASX:TNC) has acquired a 13% stake in a data storage product distributor, and secured another distribution deal for subsidiary Valleyarm Digital.

The company said it would pay $825,000 in cash and nearly 2.3 million in new shares to acquire a stake in Digistore Solutions International, which has worldwide distribution rights to the Centurion range of data storage optical backup and archive products.

Transol will maintain the right to acquire an extra 4.17% stake in Digistore International, which is majority owned by Transol executive director Angus Edgar and his related entities.

Digistore International also owns an 80% interest in Singapore-incorporated Digistore Solutions Holdings, which holds the associated Centurion IP and has more products in development.

Separately, Transol revealed its wholly-owned subsidiary, digital music distributor Valleyarm Digital, has entered a deal that will make its catalogue available through Singapore's main mobile operators.

Transol has entered an agreement with Ithos Digital that will provide for distribution through the music stores operated by Optus' parent company, SingTel (ASX:SGT), as well as M1 and StarHub.

Valleyarm also has deals in markets including Europe, APAC and Japan. Transol acquired the remaining 20% it did not yet own in the subsidiary in October last year.

TNC shares fell by a third in Monday's trading to $0.002.

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Tags investmentssingtelTransolValleyarm DigitalASX:TNCDigistore Solutions

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