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Snell & Wilcox Acquires PSP Digital

(November 29, 2001)
Snell & Wilcox today announced the acquisition of Newbury, UK-based manufacturer PSP Digital. PSP Digital Ltd. designs and manufactures digital equipment for post production and broadcast applications - concentrating on the development of high quality switchers and keyers.

The company's current product line includes the PVS series digital switcher and the TrikKey digital keying system, both of which are in use worldwide by leading broadcasters and post production facilities. A new, high definition switcher is scheduled to be launched in January 2002.

Harry Cross, Snell & Wilcox chief operating officer, said: "PSP Digital is an exceptional company with a technical knowledge, dedication to quality and commitment to its customers that match Snell & Wilcox standards. Their existing products augment our range, and their existing team - headed by the company's founder Pete Smith - will further strengthen our rapidly growing position in the post production equipment market."

Phil Haines, vice-president of Post Production at Snell & Wilcox added: "We are really turned on by PSP's product range and look forward to working closely with the team that developed them. This move, together with the acquisition of Post Impressions in September, sends a clear signal to our customers that Snell & Wilcox is committed to the expansion of its Post Production range."

Terms of the PSP acquisition were undisclosed. PSP Digital will remain at its current location in Newbury, Berkshire. Further developments will be announced as they occur.

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