Thomson to acquire Canopus
December 7, 2005
Thomson announced Monday that it has signed an agreement to acquire 33 1/3 percent of the issued and outstanding shares of Canopus, a Japan-based company with high-definition desktop video editing software.
Thomson acquired the stock from Canopus Chairman and CEO Hiroshi Yamada and members of his immediate family. The company also launched a public tender offer for the remaining Canopus shares Dec. 6.
The value of the private transaction combined with the pending tender offer represents about $107.5 million on an equity value basis. Total Canopus revenue for the 12 months ending Aug. 31, 2005, was around $59 million. About 80 percent came from the company’s core ProAV and video editing positions.
Taken with the
discussions with Thales on Thales Broadcast & Multimedia (broadcasting and IP-TV), this transaction completes Thomson's external initiatives for its Grass Valley Broadcast & Networks business, according to a press statement.
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