Cinedigm has agreed to acquire Gaiam Inc’s entertainment unit GVE in a $51.5m move.

The target is regarded as a leading distributor of home entertainment brands and content and plugs in home entertainment platform to Cinedigm’s multi-platform infrastructure.

Gaiam will retain its health and fitness media business. 

Cinedigm, led by Chris McGurk (pictured), said the acquisition was expected to add more than $15m of annual EBITDA to its financial results.