The Vitec Group has acquired Teradek, an Irvine,CA-based company that manufactures and provides IP-based wireless HD video devices and platforms used in broadcast contribution and distribution, video production. The purchase price is said to be $15 million, with an additional $15 million based on how well the Terdek product line performs. Teradek will now be incorporated into the Vitec Videocom division.
Vitec said the acquisition is part of its ongoing strategy to offer customers innovative products and solutions that improve operational efficiency. Teradek’s low-cost, easy-to-use solutions sit firmly in the camera peripherals space and contribute to the transmission of exceptional images. Vitec Videocom will promote and sell Teradek’s products and solutions to its wider client-base.
Matt Danilowicz, Vitec Videocom CEO, said, “Whether it’s a cinema director seeking an on-set monitoring system, an ENG journalist transmitting breaking news from a challenging environment, or a professional videographer live-streaming his client’s ceremony, class or conference, Teradek’s products will enable us to provide an affordable solution for our customers’ wireless transmission requirements.”
Teradek employs approximately 60 people at its offices in Irvine. It was founded in 2008 by Nicol Verheem, a former GE engineer, who will join the Vitec Videocom Divisional Management Team as part of the acquisition.
“This represents a major step forward for Teradek, which I believe will expand our reach, fuel our continued growth and enhance our focus on product innovation,” Verheem said. “We will undoubtedly benefit from the resources and reach of Vitec Videocom and will embrace the opportunity to work alongside some of its other market-leading brands.”
The Vitec Videocom division is now made up of Anton/Bauer, Autoscript, Camera Corps, Litepanels, OConnor, Petrol Bags, Sachtler, Teradek, Vinten and Vinten Radamec.