Mobile video innovator Yospace in MBO

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Yospace, the mobile video innovator formerly owned by Bauer Media, has today announced the completion of an MBO, transferring all people and business assets to a new entity, still known as Yospace.  The MBO was led by Tim Sewell and David Springall, CEO and CTO of the business respectively, who will now lead the innovative mobile video specialist as an independent business. Terms of the transaction were not revealed.
Tim Sewell, CEO of Yospace, said: “The strength of our technology and product strategy has been endorsed by the investors backing this deal, which, given the current economic climate, is especially profound. We are very pleased with this outcome and firmly believe that the Yospace business and its very talented team of people have a great future as an independent business with more freedom and flexibility to expand the reach of our products and services.  I’d also like to thank Bauer Media for being so supportive throughout this process, and wish everyone there the very best for the future.”