Shares in Falcon Acquisitions Ltd (LON:FAL) have been suspended as it agreed terms of a potential purchase of Orbital Multi Media Holdings Corp, which would class as a reverse -takeover.
Executive chairman Gert Rieder said: "We continue to consider acquisition opportunities in the rapidly growing OTT market, which is transforming the way we access media content.
"Our focus has been on securing a foundation investment that will enable us to build a scalable business through which we can generate significant returns for our shareholders."
The group has a strategy of specializing in the large and rapidly growing OTT, or over-the -top market. This refers to the supply of media via the internet, such as the services such as Netflix or Amazon Prime.
It is a means of bypassing traditional media distribution methods.
Rieder continued: "I am pleased to report that we have identified one situation in particular which we believe has the potential to generate considerable value, subject to the required conditions to complete the transaction being met."
Shares will be suspended until a prospectus is published or discussions terminate.