10.20.2006 12:00 AM
Vitec to Acquire Autoscript
The Vitec Group, a U.K.-based provider of broadcast equipment and services, has agreed to acquire the issued share capital of ALC Broadcast Ltd., the holding company for Broadcast Developments Ltd. and the Autoscript teleprompting businesses (Autoscript Ltd., BDL Autoscript USA Inc., and Autoscript Hire Ltd.).

Autoscript is one of the leading providers of teleprompting hardware and software to the broadcast industry, with subsidiaries in the U.S. and U.K. Vitec acts as distributor for Autoscript in Germany and Italy. The two companies co-developed a Voice-Plus Voice Recognition teleprompting system, which was introduced at NAB2006.

Gareth Rhys Williams, chief executive of Vitec said, "Autoscript is a growing business that we know well which, together with our existing brands, will enhance our position as a leading supplier to the broadcast and video industry."
Sales of Autoscript in the year ended Dec. 31, 2005 were $6.5 million (£3.5m). The acquisition is expected to slightly enhance earnings FY 2007. Vitec said the acquisition would be funded from existing resources.

Michael Accardi, president of Autoscript USA Inc., said the company doesn't anticipate any facility closings or personnel changes.

"We are excited about entering into this agreement and believe that Vitec Group will further strengthen our worldwide position and help us to continue to develop as the leading teleprompting company," said Accardi.

The companies expect the deal to be completed by the end of the year.


Comments
Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found




Thursday 11:07 AM
The Best Deconstruction of a 4K Shoot You'll Ever Read
With higher resolutions and larger HD screens, wide shots using very wide lenses can be a problem because they allow viewers to see that infinity doesn’t quite resolve into perfect sharpness.

David Goggin /   Wednesday 03:01 PM
Sommer Introduces New Hybrid Cable at InfoComm
Clyne Media, Inc /   Wednesday 10:41 AM
Guitar Center and DirecTV Present Muse Live from The Mayan

 
Featured Articles
Exhibitions & Events
Discover TV Technology