For a business like Vitec, intelligent and sustained investment in new markets, technologies, products and people is vital to ensure that we retain our market-leading positions.
The “image capture and sharing” market has fundamentally changed and we continue to identify and make appropriate, value-adding acquisitions to supplement our organic activities and enable us to benefit from those changes.
Our unique heritage, experienced people and the credibility of our established, premium brands allow us to recognise strategic opportunities in new markets, technologies and geographies and expand into those pockets of the market that are growing fast.
JOBY and Loweproplus
Vitec’s strategy is to supplement organic growth with carefully targeted acquisitions, and the JOBY and Lowepro brands are an excellent strategic fit with our existing core activities.
JOBY and Lowepro give the Group greater access to the fast growing iPhoneography and vlogging consumer accessories market, and expands its presence in the US market by adding high quality, complementary, leading brands to enhance its Photographic Division.
JOBY and Lowepro products are designed and developed in Hong Kong and California respectively. In 2006, JOBY introduced the patented GorillaPod which has transformed the camera accessories market and, like Manfrotto, JOBY has a strong presence in Apple stores. Lowepro has been a market leader in bags designed to protect electronic and photographic devices since its inception in 1967.
In addition to leading brands, the acquisition brings product marketing resources located in California and expert engineering teams based in the Far East. Dedicated supply chain teams are located in Hong Kong and China where all products are manufactured by third parties and sold globally via independent distributors.
Vitec plans to integrate JOBY and Lowepro into its Photographic Division's existing organisational structure, under the leadership of Marco Pezzana, Photographic Divisional Chief Executive.
“Vitec is the natural home for JOBY and Lowepro and we know the business well. JOBY is growing rapidly, reflecting its success in developing innovative new products for the camera accessories market, while Lowepro represents an opportunity to improve margins through cost reductions and integration with Manfrotto, along with the potential for additional benefits as its markets improve.”
Stephen Bird, Group Chief Executive, The Vitec Group plc
The acquisition of RTMotion is in line with Vitec's strategy of offering innovative and highly technical solutions to the Group's established independent content creator ("ICC") customer base, and will facilitate Vitec's growth in the higher technology area of camera accessories.
RTMotion is an excellent strategic fit with Vitec's Broadcast Division's Creative Solutions Business Unit, complementing Teradek, Wooden Camera, SmallHD, Paralinx and Offhollywood, which also design and produce high quality products mainly for ICCs.
Based in the UK, RTMotion designs and assembles wireless motor lens control systems for video cameras, selling them primarily through direct distribution and a growing reseller network, mainly targeting the ICC market.
RTMotion will become part of Vitec's Creative Solutions Business Unit under the leadership of Nicol Verheem. There are significant growth opportunities to sell RTMotion's products through Vitec's global sales and distributor network, and the business will benefit from Vitec's marketing, manufacturing and supply chain capabilities.
Wooden Camera plus
Acquiring Wooden Camera demonstrates Vitec’s commitment to expanding our portfolio of premium branded products and services for the Broadcast market. Their products are the glue that binds all the building blocks together on a professional camera system.
As part of Vitec’s strategy to invest in new markets and get closer to our customers, we acquired Wooden Camera, a high quality camera accessories company, whose products are used mainly by filmmakers and independent content creators. Their products are known industry-wide as essential items for making cameras more functional and versatile.
Based in Dallas, Texas, Wooden Camera’s high performing products supplement basic camera equipment by linking camera peripherals and are used on many leading cameras. Wooden Camera designs its products in the US and sells them directly to end users through a number of channels, including its own online store and a dedicated retail outlet in Los Angeles, as well as via a reseller network. The products are used by the growing market of independent content creators providing images to an increasing number of new media platforms.
Wooden Camera strengthens and complements Vitec’s existing activities, including Teradek, Paralinx, SmallHD and Offhollywood which also design and provide high quality products mainly for independent content creators.
Our acquisition of Wooden Camera has enabled it to leverage its leading market position and expand worldwide. Now, as part of Vitec, these products are being sold around the world through Vitec’s extensive global sales and distributor network and the business is benefiting from Vitec’s manufacturing and product sourcing capabilities. It is also collaborating with many areas of the Group on new product development.
“We are excited to have become part of Vitec and feel that our product line and culture fits perfectly with Vitec’s premium brands. Customers already turn to Wooden Camera when they need to mount a SmallHD monitor, Teradek transmitter, Anton/Bauer battery and other items. Now as an official part of the Group, we look forward to many new possibilities.”
Ryan Schorman, co-founder of Wooden Camera
Vitec’s investment in Offhollywood’s R&D expertise and cutting-edge products enables us to grow our higher technology product range.
Offhollywood is a camera accessories manufacturer, equipment rental and production services provider and its acquisition is in line with Vitec’s higher technology strategic goal. A digital cinema company based in Brooklyn, New York, providing R&D and cutting-edge production/post-production services, Offhollywood has most recently focused on designing and developing a unique line of modules for the RED camera product range.
“By partnering with the Vitec engineering team we were able to rapidly develop and bring to market a unique line of modules for the new RED cameras, overcoming obstacles that otherwise would have been insurmountable.”
Mark L. Pederson, co-founder and CEO of Offhollywood
“The Offhollywood team has been an important partner to RED since our inception and we have continued to look to them for guidance over the last decade. We are proud and excited to see them take their next step by joining forces with Vitec.”
Jarred Land, RED Digital Cinema President
Provak further expands Vitec’s strong photographic distribution model.
As part of Vitec’s strategy to get closer to our customers we acquired Provak, the main distributor of photographic brands in the Netherlands and Vitec’s former distribution partner. In addition to margin consolidation, sales growth and full control of channel management, Vitec’s ownership of Provak has enabled us to consolidate all photographic brands in Benelux under one distributor and serve this region from the Netherlands.