Nstein Technologies Acquires Picdar of U.K.

Posted Thursday, February 14, 2008 12:00 am

By: E&P Staff Montreal-based online publishing solutions developer Nstein Technologies has acquired British digital asset management solutions provider Picdar, of St. Albans.

Nstein's customers include the BBC and News International, while Picdar's clients include Associated Newspapers, Trinity Mirror, The Telegraph and The Guardian, which use the developer's Media Mogul software to manage photos and other digital assets.

Picdar co-founder Andy Heather, Chief Executive Lesley Steinitz, and software engineer Jeff Carson have taken positions at Nstein in the Uunited Kingdom.

The acquisition was made through a combination of cash and shares for an enterprise value ranging between $6,595,000 and $9,245,000, contingent on future revenues and EBITDA targets, according to Nstein.

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Nstein Technologies Acquires Picdar of U.K.

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