An Adelaide video production company, Austin, has been sold to an unnamed investor for $50m.
The sale of the video production and distribution company to a buyer has not yet been announced.
Austin’s business, which produces online video content for entertainment companies and has been involved in a number of acquisitions, is one of the oldest in the industry, according to the Sydney Morning Herald.
It has been producing content for more than 20 years, the Herald said.
It is a large undertaking with a workforce of around 150 people, and the majority of its employees are from South Australia, which is where Austin is based.
Mr Noll, the company’s founder, has also been involved with a number projects, including the production of the blockbuster Australian film, “Killing Them Softly”.
“Killing them softly” is about a group of young men who decide to kill a mob of young women in the town of Newbury, New South Wales.
“It’s about a young couple who have just been separated for a long time and decide to move to the countryside and have some fun,” he said.
“This is the type of movie that is about being able to have fun and being able have freedom and doing what you want to do.”
The sale is expected to close on August 19.