03:20 PM EST - Cinram International Income Fund : is buying interactive software and game distribution company Ditan Corp. for US$50 million.
Cinram - the world's biggest manufacturer of prerecorded media products including DVDs, CDs, video and audio cassettes and computer CD-ROMs - said Monday it will pay additional cash consideration upon the achievement of certain targets. "Ditan's strong relationship with the interactive software industry and well-established footprint will provide Cinram with a point of entry into a new industry that is directly adjacent and complimentary to ours," Cinram chief executive officer Dave Rubenstein said in a release. "They have a large stable of renowned video games customers and retailers with medium to long-term contracts that will be accretive to Cinram." Cinram International Income Fund
units T.CRW.UN are trading up nine cents at $24.34.
