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The Gores Group Acquires VITAC CorporationThe Gores Group, a leading Los Angeles-based investment firm, today announced that it has completed the acquisition of VITAC Corporation from Merrill Corporation. The Gores Group invested through its Small Capitalization Partners investment fund. Financial terms of the transaction were not disclosed. Headquartered in Canonsburg, PA, VITAC is a provider of captioning and related services to clients in the media and entertainment, education, corporate and government verticals. Founded in 1986, VITAC has built a reputation as the premier captioning solutions provider by consistently delivering highly accurate, reliable and on-time services. The company will caption a record 300,000 hours of video content in 2016. "VITAC is the clear market leader in the captioning solutions industry, with significant scale, diverse service capabilities and a strong customer base," said Anthony Chirikos, Principal of The Gores Group. "We look forward to supporting VITAC to continue to grow the business, both organically and through acquisitions." "This is an exciting time for VITAC," said Pat Prozzi, VITAC's President and CEO. "We look forward to our partnership with The Gores Group and the resources they offer to accelerate growth and further strengthen our position in the marketplace." Chris Crowell, Managing Director for The Gores Group, added, "VITAC's reputation for providing quality captioning services is unmatched in its industry. We look forward to working with Pat and her talented team to ensure that VITAC continues o offer its customers best-in-class services." About The Gores Group, LLC The Gores Group, founded in 1987 by Alec Gores, is a global investment firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm's operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. Over its 25+ year history, The Gores Group has become a leading investor having demonstrated a reliable track record of creating value in its portfolio companies alongside management. Headquartered in Los Angeles, The Gores Group maintains offices in Boulder, CO, and London. For more information, please visit www.gores.com. About VITAC Corporation VITAC Corporation is the nation's largest provider of closed captioning and other accessible media services. VITAC provides live and prerecorded captioning solutions in English and Spanish, video description and digital media services for broadcast networks, cable TV, online video, and teleconferences worldwide. Among the company's largest clients are NBC Universal (News - Alert), Discovery Networks, BBC America, CNN, C-SPAN, FOX, Turner Broadcasting, Warner Bros. Television, and the Federal Government. Founded in 1986, VITAC is headquartered in Canonsburg, PA, and currently employs over 325 people, with some of the most tenured leaders in the industry. About Merrill Corporation Merrill Corporation provides technology-enabled platforms for secure content sharing, regulated communications and disclosure services. Clients trust Merrill's innovative applications and deep subject expertise to successfully navigate the secure sharing of their most sensitive content, perfect and distribute critical financial and regulatory disclosures, and create customized communications across stakeholders. With more than 3,800 people in 47 locations worldwide, clients turn to Merrill when their need to manage complex content intersects with the need to collaborate securely around the globe. View source version on businesswire.com: http://www.businesswire.com/news/home/20160202005660/en/ |
