Morgan Cole’s Corporate Finance team has completed a sale on behalf of the shareholders of Inuk, a closed internet provider of television content, to US-based Move Networks.

The investors in Inuk, based in Abercynon, South Wales, include Welsh television channel S4C and Wesley Clover, the UK and North American investment house and the deal gives those investors a stake in the enlarged Move Networks group.

The tie-up is expected to see an increase in engineering capacity at Inuk’s South Wales operation as it moves from a closed-internet network provider of internet protocol television (IPTV) content to the open internet networks market.

Through the acquisition of Inuk, Move Networks said it would accelerate the realisation of TV everywhere by enabling television experiences on PCs and broadband enabled devices.

Utah-based Move Networks allows leading broadcasters, including ABC and Fox, to deliver live and on-demand high-quality video to PCs and other devices.

Inuk Chief Executive Marcus Liassides said, "The Move-Inuk combination is a perfect marriage of technologies and business models.

"We will offer a solution that augments traditional linear-based programming allowing more consumers to experience television on their own schedules."

The Morgan Cole Corporate Finance team was led by Partner Robert Cherry who said, "Inuk is one of the most exciting young companies of its generation and it is very encouraging that its potential has been recognised by Move Networks.

"This was a complex, trans-Atlantic deal involving a large and diverse group of investors, and we are delighted to have played our part in its success."