Banijay announced its plans to formally acquire scripted and non-scripted multi-territory content group Beyond International on Wednesday.

Under the terms of the agreement, Banijay would assume full control of the Beyond International group of companies and departments — as well as its more than 8,000 hours of IP — with all elements of the business boarding the Banijay production and distribution footprint. Beyond’s titles includes “Highway Thru Hell,” “Heavy Rescue: 401,” “Massive Engineering Mistakes,” “Halifax: Retribution,” “MythBusters” and “Deadly Women.”

The deal remains subject to certain conditions, including Beyond shareholders’ approval, court approval and other customary closing conditions. It is hoped the deal will close at the end of 2022 or the beginning of 2023. Once the deal is completed, Beyond International will become a wholly owned subsidiary of Banijay and its Australian Stock Exchange-listed shares will cease to be publicly traded.

Beyond International Managing Director and CEO, Mikael Borglund, will remain in his role through the acquisition.

“The Beyond Board is very much supportive of the deal, which will see us join Banijay’s group, bolstering its standing in what is an increasingly competitive market,” said Mikael Borglund, managing director and CEO of Beyond International. “Joining a leading global business like this is a very exciting opportunity for us and we look forward to collaborating on newfound opportunities ahead.”

Added Banijay CEO Marco Bassetti: “As content demand continues to soar, catalogue remains key, and in acquiring Beyond, we would take our offering up considerably. Primarily bolstering our IP and production portfolio in the English-language and factual space, with Beyond’s complementary content, the deal can enhance our position as a leading go-to for clients and commercial partners alike.”

Banijay is being advised on the transaction by Corrs Chambers Westgarth.