Just in time to make a splash at this week's CEDIA Expo '99 in Indianapolis, high-end TV projector marketer Vidikron of America has been reborn through its acquisition from its parent, Vidikron Technologies Group, by a group of international investors. Terms were not disclosed.
Along with Vidikron of America come brand rights, inventory, and its U.S. design and engineering group. The company is headed by executive VP James Wellnitz, and according to a company source, Giovanni Cozzi may be returning to lead marketing and sales.
Vidikron Technologies retains the Italian manufacturing and sales operation and the U.S. Projectavision business, and Phillip Siegel continues as chairman.
Vidikron of America said the separation from its parent will have no impact on its ability to do business. While it does source some product from Italy, it also has product built to its specifications by manufacturers in Canada, the Far East, Mexico and the U.S.
With its new backers, Wellnitz said, Vidikron of America has "never before been in this strong a position financially."