2waytraffic valued at $232.7 million

The deal, which values the Dutch media company at up to £137.5 million ($280 million), will see Sony ramping up its gameshow library, which already includes long running hits “Wheel of Fortune” and “Jeopardy!,” as well as new CBS quizzer “Power of 10.”

Along with “Millionaire,” 2Waytraffic owns the Celador formats “You Are What You Eat” and “Brainiest,” on top of its own library of gameshows, including “Last One Standing” and “That’s the Question,” which airs on GSN in the U.S.

“One important key to the growth of Sony Pictures in the years ahead is global expansion,” said SPE chairman and CEO Michael Lynton. “With the potential acquisition of 2waytraffic, we would have the opportunity to expand our access to new content and increase our interactive and distribution capabilities around the world.”

2waytraffic’s board has recommended that shareholders accept Sony’s offer, which represents a premium of 46.9% on the company’s closing share price from March 7.

Founders Kees Abrahams, Taco Ketelaar and Unico Glorie will also benefit from an earn-out arrangement, should the company hit performance targets in the three years to March 2011. Abrahams and Ketelaar will remain in senior management positions, while Glorie will step down as a director but will continue to work with the company as a consultant.

John McMahon, prexy and managing director of Sony Pictures Television Intl. Europe, and Sander Schwartz, president, international production, will join the company’s supervisory board.

Founded in 2004, 2waytraffic listed on London’s Aim stock market in April 2006, valued at £107.9 million (£219.7 million), and saw off stiff competition when it acquired the rights to “Millionaire” and distribber Celador International for £106 million (£216 million) in December 2006.

However, the company was hit hard by premium rate phone scandals across Europe last year, which lead to a steady decline in its share price. Last December, it announced that it was phasing out the majority of its call TV activities in Europe.

The company expects to report EBITDA of Euros 29 million ($45 million) for the year ended December 31, 2007.

Source: Variety.com