Barco sells its Home Cinema activity to French TEC
KORTRIJK, BELGIUM, 20 September 2004. Barco has sold its Home Cinema activity to French TEC. With its product brand DreamVision, TEC is the world-leading independent Home Cinema specialist in high-end home video.
The Home Cinema activity of Barco was part of the Media & Entertainment division. Within Barco, the Home Cinema activity was the only one still focusing on the consumer market.
As Digital Cinema is about to develop in the next couple of years, management will now be able to fully focus on this professional visualisation market.
In this way, existing Barco customers will keep benefiting optimal support from the leader in the Home Cinema market.
In 2003, Barco’s total sales in Home Cinema were about € 10 million, whereas TEC/DreamVision expects to realize a sales figure of € 20 million in 2005.
As Barco’s and TEC/DreamVision’s distribution channels are complementary, this transaction will significantly strengthen the market position of TEC/DreamVision.
This transaction results in Barco now being fully focused on nothing but professional visualization markets. It will have no significant effect on the results of Barco.
About Barco
Barco, an international company headquartered in Kortrijk, Belgium, provides visualization and display solutions for professional markets. Barco designs and develops solutions for large screen visualization, display solutions for life-critical applications, and systems for visual inspection. Barco has a network of subsidiaries, distributors and agents in almost 100 countries. Barco is quoted on Euronext Brussels and is a BEL 20 and a Next 150 company.
http://www.barco.com
About TEC/DreamVision
Since 1996, TEC, an international company headquartered in Paris, France, has been providing under the DreamVision brand, high-end video appliances for the consumer market. These Home Cinema products are mainly video-projectors and flat screens. TEC, which has always been famous for its innovating design and an irreproachable quality enjoys a strong brand image worldwide. Selling in more than 50 countries with a network of local distributors, taking advantage of a booming sector of activity, the DreamVision brand keeps on developing.
www.cineversum.com
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