ROK purchases Jalipo Media

ROK Entertainment Group Inc. is expanding its Internet video offerings with the acquisition of Jalipo Media Limited., a fellow U.K.-based outfit.
ROK, which delivers streaming and on-demand video to 2.5G and 3G handsets, will issue 600,000 of its shares – the equivalent of roughly $16.8 million – for Jalipo, which bills itself as “the first online marketplace for TV and video.” Jalipo serves as a kind of premium YouTube, allowing users to access news, sports, movies and other video content on computers for a fee.
The move is the latest in a series of acquisitions for ROK, which earlier this year picked up Swedish software developer Genium and last year bought a controlling stake in Fun Little Movies.
“This acquisition (of Jalipo) is of great strategic importance to ROK,” said ROK CEO Laurence Alexander,” as it furthers our presence in the mobile TV market. There are significant synergies between Jalipo’s product offering and our own.”