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Thomson Grass Valley Vows to Acquire CanopusCompany officials cite synergy in craft editing and codecs, sales channel in Japan as motivation
Thomson Grass Valley signed an agreement to buy Canopus in a deal estimated to be worth $107.6 million. The company bought a third of Canopus from the companys founder Hiro Yamada, and will launch a tender offer for the other two thirds of the company on December 6, 2005. In a teleconference, Thomson vowed to acquire 100% of Canopus and integrate it fully into Grass Valley. The company emphasized the strong editing capabilities of Canopus products and its advanced codecs and research and development as the most compelling reasons for the purchase.
Canopus is a Japan-based source of digital video and graphics hardware and software for broadcasters and video professionals, as well as prosumers and video enthusiasts. Through its Edius line of editing products, the company offers a variety of both software and hardware editing systems. The company is also known for its advanced codec technologies, including DV codecs, MPEG products and, of particular interest to Thomson, its HDV codec which will add the ability to ingest and edit the new low-cost high definition format to the Thomson Grass Valley line.
|Marc Valentin, left, president of the Grass Valley business within Thomson seals the deal with Canopus Chairman and CEO Hiroshi Yamada in Tokyo on December 5, 2005.|
Canopus, a publicly traded company, was founded in 1983 by Hiro Yamada, whose initial product was a CPU add-on card. Canopus now employees 255 people, with just fewer than 200 of them located in Japan. Thomson officials didnt say whether any of those employees would be laid off, but noted that the management structure of Canopus would remain intact with Yamada staying in charge of the Canopus business, as well as continuing to control the research and development arm of the company.
Thomson is expected to retain the Canopus name currently associated with the companys various editing products. ?We actually place quite a lot of value in the Canopus brand, said Laura Barber-Miller, Vice President of public information at Thomson Grass Valley. ?We will definitely continue to advance and leverage that within the Grass Valley portfolio. As the integration proceeds quickly over the next few weeks, well also take a look at some other some brands, but definitely we see a lot of value in that Canopus brand, so youll see it locked with Grass Valley going forward.
|Canopus Edius is available as a software-only application or a hardware and software combination. In its most powerful form, it's capable of uncompressed high-definition editing with numerous effects. Edius NX is capable of HDV editing.|
Besides the Canopus editing products that appeal to Thomson, company officials also noted Canopus software transcoding products of various compression codecs were also a factor in the decision to acquire the company, as well as its video conversion software, scan conversion products, and PC board-level MPEG encoding products. Thompson also mentioned Canopuss product called MediaEdge2, a video distribution device utilizing IP networks, as another attractive element of the acquisition.
|Thomson Grass Valley's NewsEdit is the centerpiece of the company's mostly-cuts "hard news editing" system.|
Related Keywords:Thomson Grass Valley, Canopus, Hiro Yamada, advanced codecs, research and development, edius, craft editing, NewsEdit, HDV codec