PARIS - On December 5th, Thomson signed an agreement to acquire 33 1/3 percent of the issued and outstanding shares of Canopus Co., Ltd, a Japan-based developer of high definition desktop video editing software. The next day, Thomson made an offer for the remaining Canopus shares.
The transaction completes Thomson’s external initiatives for its Grass Valley Broadcast & Networks business. Grass Valley is a key element of Thomson’s “Two Year Plan,” as one of four primary revenue growth boosters. The acquisition fits with Thomson’s objectives to broaden its media and entertainment client base.
In addition to offering PC-based, multi-format digital and HD video editing systems, Canopus is a leading supplier of high-performance video encoding/decoding technology. Canopus also provides digital media conversion technologies, including a range of specialized devices that bridge the video/audio and PC worlds, allowing content to be moved easily between these different environments.
Canopus also produces a multi-channel, multi-location video delivery solution that uses standard IP networks and display devices in enterprise-type applications such as digital signage for advertising and VOD applications for in-house video systems. The company’s products strengthen Grass Valley’s (www.thomsongrassvalley.com) position in several markets. Thomson and Canopus agree on the substantial opportunities that exist in professional video and professional A/V space.
“Canopus brings important products and technologies that allow us to address multiple facets of our growth strategy and accelerate key elements of our R&D roadmap,” says Marc Valentin, president of the Grass Valley business within Thomson. “Truly, we are acquiring a star with Canopus.”
“This combination will be positive for Canopus, for Grass Valley and Thomson, and for our mutual customers,” adds Hiroshi Yamada, chairman and CEO of Canopus. “Our sales organizations are very complementary. We look forward to strengthening Thomson’s presence in Japan and Asia, and to the Grass Valley sales organization creating even broader access to Canopus solutions by customers globally.”
Yamada will continue to play a leadership role in managing the Canopus business and in seizing the opportunities offered to the combined business by the professional AV and video editing markets. It is anticipated that the current Canopus management team will continue to lead the day-to-day business with the support and guidance of Grass Valley senior management.