Ingenious Acquires Two Way TV

LONDON, May 24: The media investment and advisory group Ingenious Media Active Capital has shelled out £5.34 million for a controlling stake in the interactive TV production company Two Way TV.

The funds will be used to bolster Two Way TV’s production capabilities. The company will also be opening a new office in Los Angeles to target the U.S. market. In recent years, the U.K.-based company has secured commissions for over 500 hours of programming from ITV, Sky Movies and others, focusing on gaming and play-along quiz TV formats.

Sanjay Wadhwani, a director of Ingenious Ventures, will be joining Two Way TV’s board as a non-executive director and a new non-executive chairman from within Ingenious’s network will be announced in the coming weeks. Key members of Two Way TV’s management team remain unchanged, with Jean de Fougerolles as CEO, Guy Templer as commercial director, and James Turner as sales director.

Patrick McKenna, director of IMAC, said: “We have been very interested in the participation TV space as it has become a permanent feature of the media landscape with broadcasters continuing to seek more innovative ways to enhance their programming and engage audiences through increasingly interactive content. There is massive growth potential in this industry both in the U.K. and around the world, particularly in the U.S. Two Way TV can bring both skill-based and gaming-based models to bear in this market and IMAC will actively seek synergies between Two Way TV and our other portfolio companies to realize that rich market potential.”