Shop TJC Ltd (UK), a wholly owned subsidiary of Vaibhav Global Limited, today announced that it has successfully executed an Asset Sale Agreement to acquire assets of Ideal World Ltd.
Ideal World, through its proprietary TV shopping channel, is into teleshopping and digital retail of lifestyle products. Having a legacy of over 20 years, Ideal World is one of the major teleshopping brands in the UK.
Through this agreement, Shop TJC will acquire the Ideal World's IP rights, broadcasting rights, studio equipment along with other intangible assets. The transaction will be funded through internal accruals.
Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited, said, "We welcome Ideal World to VGL group. Over the years Ideal World has created a unique position for itself in the teleshopping industry. We expect this transaction to create synergies and help us continue market leading growth."