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Digital Vision acquires Image Systems (13/1/2011)
The Board of Directors of Digital Vision, listed on Nasdaq OMX Stockholm Small Cap list, has today confirmed the acquisition of Image Systems, a major player in the fields of motion analysis and film scanning within the archive, restoration, defense and automotive industries.
The acquisition increases Digital Vision's stronghold in the post production and restoration markets while creating new opportunities for growth with complementary products, distribution and vertical markets currently serviced by Image Systems. The acquisition is subject to approval at an additional shareholder meeting.
With offices in Stockholm, London, Los Angeles and Hong Kong Digital Vision is a world leader in grading and restoration solutions used in the creation and enhancement of film / video and multimedia for customers including Pixar, Lucasfilm, Warner Bros., HBO, Technicolor, BBC and SVT.
“The acquisition of Image Systems is a logical and strategic step in Digital Vision’s development,” states Bengt Broman, current CEO of Digital Vision. “We now have more scope to meet the growing demands that the media industry has for creative solutions and services. There are multiple driving forces not least the transition to HD and higher resolution content, with consumers demanding pristine image quality from television through to 3D movies. The transition from analogue to digital, new distribution platforms and the restoration of media archives also provide an increasing demand for our services. With the acquisition of Image Systems, we will offer the market new concepts and will significantly increase our presence."
As part of this announcement Digital Vision will introduce a new CEO Mikael Jacobsson who steps into the role end of Q1 2011. As the second largest shareholder in Image Systems, Jacobsson has played a leading role in developing the company and has extensive experience in senior operational positions for various global software companies. He also has experience working with stock listed companies and venture capitals.
“I look forward to leading the new merged company, which faces a very exciting future in an industry where technology is continually evolving,” says Jacobsson.
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