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Falcon Acqusitions on hunt for first deal

Published: 09:09 27 Apr 2016 BST

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OTT brings it all together

Falcon AcquisitionLtd  (LON:FAL) continues to look for its first deal in the OTT space.

The shell company listed in January to find an acquisition specifically focused over- the-top services that bring internet-driven services such as Netflix and Amazon Prime together with a standard TV offering.

It raised £1.6mln when it floated in January and has just topped that up with a further £2mln through a placing at 20p each.

Falcon is targeting acquisitions up to £30mln within twelve months from its listing date.

“We look forward to identifying the first acquisition opportunity and becoming a trading company in the near future,” said chairman Gert Rieder.

 In 2015, Falcon posted a loss of £169,000.

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