UK broadcaster ITV has completed the acquisition of Dutch producer and The Voice creator Talpa Media.

ITV confirmed the completion of the £355 million (US$531.68 million) deal – which was first announced in March - through a London Stock Exchange news release.

“The acquisition is a further milestone in the company’s strategy of building an international content business that creates and owns entertainment formats and dramas that sell internationally, and significantly strengthens ITV’s position as a leading producer in Europe,” reads the statement.

ITV made an initial payment of £355 million for the Dutch producer-distributor, indicating that further payments would be “dependent on Talpa’s future performance.”

As reported in March, a maximum total – including the initial payment – for the prodco is approximately £781 million (or approximately $1.17 billion), though this figure is contingent on Talpa delivering “significant profit growth” over an eight-year period as well as Talpa owner John de Mol (pictured) remaining with the business during that period.

The Talpa acquisition is the latest and largest in a string of deals made by ITV in recent years. The company paid $360 million for Leftfield Entertainment in May 2014, and has also added such companies as ThinkFactory Media, Gurney Productions, The Garden, DiGa Vision and High Noon Entertainment to its roster.