Last month, The Vitec Group purchased O’Connor Engineering Laboratories from The Autocue Group of Companies. It also bought Radamec Broadcast Systems (RBS) from Radamec Group.
Vitec purchased O’Connor’s operating assets and assumed certain of its liabilities, not including borrowings, for $2.7 million in cash. It purchased the shares of Radamec Broadcast Systems Limited in the UK and acquired the operating assets and some of the liabilities of Radamec in the U.S., all for £4.65 million in cash. No debt has been assumed.
The acquisitions enhance the development capability of Vitec’s broadcast camera systems division in the high definition market and will widen the Group’s access to non-broadcast applications for pan and tilt heads.
