Acquisition
February 18 2003 - 3:30AM
UK Regulatory
RNS Number:6211H
The Vitec Group PLC
18 February 2003
18 February 2003
The Vitec Group
Vitec acquires Radamec Broadcast Systems
for #4.65 million
The Vitec Group plc ("Vitec"), the international supplier of products, services
and solutions to the Broadcast, Entertainment and Media industries, announces
that it has today purchased Radamec Broadcast Systems ("RBS") from Radamec Group
PLC for #4.65 million in cash. Vitec has purchased the shares of Radamec
Broadcast Systems Limited in the UK and acquired the operating assets and some
of the liabilities of Radamec Inc in the USA. No debt has been assumed. RBS
designs and manufactures heads and pedestals for broadcast cameras and virtual
studio systems for the broadcast and other industries.
Commenting on the acquisition, Gareth Rhys Williams, Chief Executive of Vitec
said:
"RBS expands the range of automated camera control systems available from Vitec
group companies, enabling us to serve customers better. The acquisition of RBS
will widen the Group's access to non-broadcast applications for pan and tilt
heads and adds capability in virtual studio technology."
Notes to Editors
The Vitec Group plc supplies a wide range of equipment and services to the
broadcasting, entertainment, photographic and retail display industries. Its
products are distributed in nearly 100 countries, either through dealerships or
direct to the end user or corporate sector, and it has manufacturing facilities
in five countries. Vitec, with brands such as Sachtler, Vinten, Manfrotto and
Clear-Com, is a major force in its chosen specialised fields.
-Ends-
Contacts:
Gareth Rhys Williams Telephone: 020 8939 4650
The Vitec Group plc
Rob Gurner Telephone: 020 7269 7221
Financial Dynamics
This information is provided by RNS
The company news service from the London Stock Exchange
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