Sky takes stake in V-Nova

European pay TV operator Sky is investing £4.5M (US$5.7m) in London-based V-Nova to assist with its outside broadcast and internet operations.

The deal, through its Italian subsidiary Sky Italia, will see the pay operator take a minority stake in V-Nova, which specialises in developing video compression technologies.

Outstanding debt will be converted into a minority equity stake in the company, which has previously received investment from firms such as satellite operator Eutelsat.

Sky Italia began working with V-Nova in 2015, using its technology for on-location broadcasting and delivering video over the internet.

Sky is currently awaiting a decision from Ofcom into 21st Century Fox’s proposed takeover of the pay TV operator, with the results of the UK media regulator’s investigation expected this week.