A Toronto-based multimedia maker is looking to sell its key assets to Multisys Media Group, the company said Tuesday.
Key assets in the business include a media key, a multimedia key management system and a multimedia tastaser.
The company said in a statement that it expects to sell the key assets within the next two to three months, after it acquires the media key assets.
The deal will be completed in the third quarter.
In a separate statement, Multisks management said it was in the process of selling the key asset assets to the group and would provide more details when that transaction is complete.
It’s not known whether Multis Keys will continue to operate as a standalone company.
The acquisition of Cherry Media, the parent company of a slew of Canadian media brands including The Globe and Mail and The Toronto Star, could help the company expand its reach in North America.
In its statement, the group said it is looking for a “new and differentiated partner in the digital media industry” that will have the resources and the expertise to drive the next stage of its development.