Digital TV manufacturer Syntax-Brillian said 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, Vivitar sells its products through mass merchandisers. Total revenue for Vivitar in calendar 2005 year was approximately $120 million.