5th May 2006 07:00
The Vitec Group PLC05 May 2006 5 May 2006 The Vitec Group plc Launch of Bogen Imaging Japan and Investment in Media Numerics The Vitec Group plc (Vitec) announces that it has acquired the Japanesephotographic distribution activities for its Manfrotto photographic and videocamera and lighting supports and its Kata photographic bags, from Honjo & Co inKobe, and for its Gitzo photographic and video camera supports, from KFC Ltd inTokyo. The acquisition cost, including inventory and goodwill, is approximately£1.4m. A new Vitec company, Bogen Imaging KK, will commence trading on 1 June2006. In addition, Vitec announces that it has acquired a minority shareholding inMedia Numerics Ltd. Vitec will also provide certain loan finance, which willresult in a total investment over the next 12 months of approximately £1.0m.Based in Frankfurt, Media Numerics designs and develops innovative real-timenetwork solutions for live performances, a market already served by Vitec'sClear-Com, Avenger and Litec brands. Gareth Rhys Williams, Chief Executive, commented: "These are exciting developments for Vitec. Japan is a very important marketfor us and we believe that establishing our own distribution business there willlead to increased sales of our products, as well as an enhanced service for ourJapanese customers. "The Media Numerics management team has a proven track record in theprofessional audio world and Vitec is delighted to be able to support thebusiness in this dynamic start-up phase of its development." Contacts: The Vitec Group plc Telephone: 020 8939 4650Gareth Rhys WilliamsAlastair Hewgill Financial Dynamics Telephone: 020 7269 7121Richard MountainSusanne Walker Notes to Editors About The Vitec Group plc The Vitec Group plc supplies a wide range of equipment and services to thebroadcasting, entertainment and photographic industries. Its products aredistributed in nearly 100 countries, either through dealerships or direct to theend user or corporate customer. Vitec Group companies are major forces in theirchosen specialised fields. More information can be found at: http://www.vitecgroup.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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