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.
For more information, visit www.thomsongrassvalley.com.
Future US's leading brands bring the most important, up-to-date information right to your inbox
Thank you for signing up to TV Tech. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.