Barco acquires 61% share in projectiondesign
Barco has announced that it has acquired a 61% majority share in specialist projector manufacturer projectiondesign from private equity fund Herkules Capital.
The combination of the two companies will create a product and solution set which spans the projection market from the mid-segment installation space all the way up to the advanced visualisation and 3D-simulation sector.
Speaking about the acquisition, Barco president and CEO Eric van Zele said: “This investment clearly underscores our determination to pursue global growth in all mid-segment markets. With projectiondesign we will expand our portfolio to offer state-of-the-art solutions for the simulation, virtual reality and corporate AV markets as we continue to leverage our global sizes coverage and our channels in Asia and Latin America in particular.”
UPDATE: In an interview with InAVate editor Chris Fitzsimmons van Zele added:
“In line with the guidance we gave in the past that we want to dominate or lead in the mid-segment and the high lumens segment, projectiondesign was the best fit with our strategic objectives.
“The longer term objective is to integrate projectiondesign with Barco and to use it as the platform for mid segment projector capabilities. We might retain the projectiondesign logo for the product, but we want to fully integrate them into Barco’s capabilities, because they will perform even better as an integrated unit than a stand alone business unit.
“One of the main drivers for this acquisition, apart from the strategic one, is that there are a lot of go-to-market synergies as well as operational ones that we can capture.
“I have to say that the projectiondesign management team as minority shareholders were quite keen to have a strategic partner rather than a financial partner as they are confronted with a number of issues that we can definitely help them with that the current owner could not.
“Customers of projectiondesign should not be concerned by this. They will find in the combined forces of Barco and projectiondesign a more capable partner, a partner than can fill the whole range of the mid-segment up to the brightest projector on the planet.”
Further update 20/12/12:
Herkules acquired 54% of projectiondesign in October 2009 for an undisclosed sum from founder of the company Bård Eker, with the remainder of the shares staying the hands of management and majority shareholders.