04.11.2011 01:10 AM
Digital Vision Completes Acquisition of, and Becomes Image Systems
BURBANK, CALIF., LONDON and STOCKHOLM, SWEDEN: Digital Vision’s acquisition of Image Systems has been finalized. The combined companies will go under the “Image Systems” moniker, and divided into three business units—Media, Motion and Defense. Digital Vision focuses on image enhancement and mastering systems. Image Systems does motion analysis and film scanning for government, institution and manufacturing industries. The acquisition was announced in January. The purchase price was undisclosed.
The name change and organizational structure is intended to reinforce the company’s focus on developing and selling solutions across global markets. The Nucoda and Phoenix product lines will continue, as will the Golden Eye Scanners as part of the Media Business Unit.
Mikael Jacobsson, second largest shareholder in Image Systems, officially stepped in as CEO in April 1. He follows current Digital Vision CEO Bengt Broman in the role. The move, announced when the acquisition process began last December, gives Jacobsson oversight of all business units of the new company. He was said to play “a leading role in developing Image Systems and has extensive experience in senior operational positions in global software companies and in stock-listed companies and venture capital.”
Martin Bennett, currently U.K. managing director and vice president of Worldwide Marketing for Digital Vision, will head the Media and Entertainment Business Unit. Bennett joined Digital Vision in 2008, after a decade-long gig at Avid where he was a senior marketing executive.
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