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Thomson Announces Successful Completion of Tender Offer for Shares in CanopusThomson ownership of Canopus will be 94.31% upon settlement (January 17, 2006)
Thomson today announced that its public tender offer (the ?Offer) closed yesterday for acceptances of shares in Canopus Co., Ltd. (?Canopus), a Japan-based leader in high-definition desktop video editing software.
Thomson has been informed by its tender offer agent, Daiwa Securities SMBC Co., Ltd., that at the close of the Offer 55,981 shares had been tendered. The Offer price was ¥148,000. Upon settlement, Thomsons ownership of Canopus will be 86,581 shares, or 94.31%, including the 30,600 shares that will be purchased from Mr. Hiroshi Yamada, Chairman and CEO of Canopus, and members of his immediate family in a private transaction. Settlement will occur from January 24, 2006.
The acquisition of Canopus will strengthen the position of Thomsons Grass Valley Broadcast & Networking business, which is a key element in Thomsons two year plan and is one of four primary revenue growth boosters. The acquisition specifically fits with Thomsons objectives to broaden its media and entertainment and client base and to support the accelerated delivery of technologies ranging from desktop video editing, video over IP, and digital media conversion, amongst others.
?We are delighted to announce the successful completion of this tender offer, as this combination is extremely positive for the respective customers of Canopus and Grass Valley, as well as for our employees. We look forward to bringing Canopus into the Thomson family, said Marc Valentin, president of the Grass Valley business.
It remains Thomsons intention to ultimately acquire 100% of the issued shares of Canopus.
Certain statements in this press release, including any discussion of management expectations for future periods, constitute "forward-looking statements" within the meaning of the "safe harbor" of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic and business conditions, consumer electronics markets, and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson's filings with the U.S. Securities and Exchange Commission.
Canopus designs and markets award-winning digital video and graphics solutions for professionals and enthusiasts. The company combines innovative hardware and software designs to achieve new standards in performance, functionality and reliability. Industry leaders worldwide recognize Canopus advanced HD, HDV, DV and MPEG codec technologies, which are featured in the companys acclaimed video editing solutions, transcoding products, and network-based video distribution systems.
Canopus has worldwide locations in Tokyo, the U.S., U.K., Germany, and China in addition to an extensive worldwide distribution network. Its primary markets are broadcast, professional video, corporate and enterprise, and government and education.
About Thomson ? Partner To the Media & Entertainment Industries
Thomson (Euronext Paris: 18453; NYSE: TMS) provides services, systems and technology to help its Media & Entertainment clients content creators, content distributors and users of its technology realize their business goals and optimize their performance in a rapidly changing technology environment. The Group is the preferred partner to the Media & Entertainment Industries through its Technicolor, Grass Valley, RCA, and Thomson brands. For more information: http://www.thomson.net. Thomson recorded global consolidated annual revenue from its core businesses (excluding Displays & Consumer Electronics Partnerships) of 5,867 million (¥788 billion) for the year ending December 31, 2004. As of Nov. 30, 2005, Thomsons total market capitalization was 4,772 million (¥673 billion).
Thomson's Systems and Equipment division develops video and film technologies, products and services sold to all major Hollywood studios, all major television, satellite, and cable broadcasters under the Grass Valley and Thomson brand-names for the delivery of analog and digital entertainment. The division also includes set-top boxes, telecommunications and connectivity businesses.
For information about Grass Valley products from Thomson please visit www.thomsongrassvalley.com.
Related Keywords:Thomson, Canopus, desktop video editing, Grass Valley, video over IP,