ProTek Capital Inc. is buying Artfest International Inc. in an all-stock deal.
For each share of Artfest, ProTek will issue one share of its stock as a dividend to Artfest shareholders.
Delray Beach, Fla.-based ProTek focuses on funding and acquiring software and mixed-media companies, especially those in the social media and entertainment industries. Investments include AcuteSystems Inc., NX Global Inc. and Infrared Systems International.
Artfest owns a Dallas production studio, as well as MyArtfest.com, and aims to connect galleries, artists, decorates, designers and private collectors.
Through the Artfest purchase, ProTek is picking up Starfest Direct Inc., a direct sales company, shares of PBS Holding Inc., a Longwood, Fla.-based media company, and Tradestar Resources, a company that markets the United Women’s Football League.