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Thomson buys Canopus
By Staff
Dec 7, 2005, 11:02
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French firm Thomson is in a rapid expansion mode to build its Grass Valley division back into relevance. The transaction with Canopus comes as Thomson is negotiating the purchase of Thales Broadcast & Multimedia, the radio and television transmitter business of French defense electronics group Thales. Thales Broadcast & Multimedia employs around 600 staff and makes sales of just under $235 million (200 million euros).
The initial purchase of shares equalling 1/3 of Canopus - a Japan-based high-definition video-editing software maker - were from Canopus Chairman Hiroshi Yamad and his family in a private transaction. Thomson will launch a public tender offer for the remaining Canopus shares on Tuesday.
According to Marc Valentin, president of the Grass Valley business for Thompson, Canopus should make sales of US$82 million (70 million Euro) in 2006 and $117 Million (100 million) in 2007. The acquisition is not going to affect Thomposon's core business earinng in the first year, but will add to it in later years. It is not expected to affect Canopus users or dealers in the forseable future.
The purchase of Thales Broadcast & Multimedia and Canopus help Thomson in its goal to transform itself into a more profitable provider of technology services to media and entertainment companies.
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