Syntax-Brillian To Buy Vivitar For $26M
By Greg Tarr -- TWICE, 10/30/2006
Tempe, Ariz. – Digital TV manufacturer Syntax-Brillian announced that it has agreed to acquire photo/optical manufacturer and marketer Vivitar for $26 million in stock.
Under the terms of the deal, Syntax-Brillian would become full owner of all Vivitar assets. Syntax-Brillian said the deal would use Vivitar as “an entrée into digital photography and Vivitar’s established global retail and distribution channels.”
This union will capitalize on key synergies between Syntax-Brillian’s leadership in LCD and digital imaging technology and Vivitar’s legacy of technological innovation in photography and optics. Vivitar will be operated as a wholly owned subsidiary of Syntax-Brillian.
Syntax-Brillian said the deal would create “significant economic and logistical advantages” by consolidating shared resources, contract manufacturing relationships, marketing and engineering expertise and distribution channels.
Syntax-Brillian said it will use Vivitar’s existing distribution channels to create new outlets, including Europe, for its LCD televisions, as well as any new Olevia or co-branded digital entertainment products that the company may develop.
Vivitar is a manufacturer and marketer of photography equipment and optics, including a range of digital cameras, film cameras, lenses, flashes and tripods, sports optics and digital imaging products.
Syntax-Brillian said Vivitar “has a diverse portfolio of intellectual property assets and patents and maintains a variety of international distribution channels in the United States, France, the United Kingdom and Hong Kong.”
In the United States, Vivitar sells its products through mass merchandisers, including Wal-Mart, CompUSA, Office Depot and RadioShack. In Europe, Vivitar products can be found at major retailers, including Tesco, Woolworth’s, E.LECLERC (France), Saturn (Germany) and others.
Total revenue for Vivitar in calendar 2005 year was approximately $120 million.
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