UK media group Carlton Communications is acquiring optical disc manufacturer Nimbus CD International Inc. It is paying $11.50 a share, valuing Nimbus at around $264m. Nimbus, which manufactures DVD, DVD-ROM, audio CD and CD-ROM disks, will complement Carlton’s earlier acquisition of optical disk and pre-recorded video cassette manufacturer Technicolor Video. Based in Charlottesville, Virginia, Nimbus had pre-tax profits of $21m for the year ended 31 March 1998, compared with $14m last year. It was originally founded in the UK but moved its operations to the US and floated on Nasdaq in 1995.
