Vitec Has Agreed to Acquire Savage Universal, a Global Market Leader in Backgrounds for the Growing Professional Studio Photographic Market
16 Novembro 2021 - 2:00PM
Business Wire
Vitec Imaging Solutions, a Division of The Vitec Group plc
(“Vitec”), the international provider of premium branded hardware
products and software solutions to the growing content creation
market, is pleased to announce that on 16th November 2021 it agreed
to acquire Savage Universal Corp and its affiliates, with the deal
expected to close by the end of November 2021.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211116006141/en/
(Photo: Business Wire)
Savage is a global market leader in backgrounds for the
professional studio photographic market, based in Phoenix, US.
Trusted by creative professionals since 1937, Savage manufactures
an extensive range of high quality, specialist, seamless paper
backgrounds, or backdrops, ensuring the essential flat, crease-free
background surface.
Backgrounds are the largest consumable products in the
commercial photography market. An essential tool in every
professional studio, they’re quick and easy to set up, and enable
photographers to dramatically reduce post-production time, by
achieving the desired look directly from camera. For more than 80
years, Savage has led this category offering an extensive range
which covers all possible applications and colours.
In the post-pandemic digital era, professional studio
photography has dramatically expanded, led by the growth of
e-commerce sales; 90% of online buyers report that image quality is
the most important factor in the decision-making process.
Savage directly serves this fast-growing market segment, as well
as fulfilling the demand from vloggers and influencers for
easy-to-set-up backgrounds for their TikTok or YouTube videos.
Marco Pezzana, Divisional CEO of Vitec Imaging Solutions
commented: “Savage backgrounds complement Vitec’s
existing portfolio of accessories for professional image creators.
This acquisition brings together the world’s leading supports and
imaging accessories provider with the world’s leading backgrounds
manufacturer, serving professional photographers, creators and
vloggers with the best in class studio equipment.”
Hayward Richard Pressman, Chairman of the Board of Savage
Universal Corp commented: “We have had a long and successful
relationship with Vitec and know them very well. They share our
business values and, as we have, always made the customer the focus
of their business. The Savage tradition of offering innovative and
quality accessory products supplied promptly and complete will
continue. Our Company recently celebrated its 84th year in
business. I must express my gratitude to all who have taken this
journey with us and thank you for being our partner and bringing us
to this point.”
A snapshot of The Vitec Group plc
Vitec is a leading global provider of premium branded hardware
products and software solutions to the growing content creation
market. Vitec's customers include broadcasters, film studios,
production and rental companies, photographers, independent content
creators, gamers and enterprises. Our product portfolio includes
camera supports, video transmission systems and monitors, live
streaming solutions, smartphone accessories, robotic camera
systems, prompters, LED lighting, mobile power, bags and motion
control, audio capture and noise reduction equipment.
We employ around 1,800 people across the world in 11 different
countries and are organised in three Divisions: Imaging Solutions,
Production Solutions and Creative Solutions. The Vitec Group plc is
listed on the London Stock Exchange.
More information can be found at: www.vitecgroup.com
Vitec Imaging Solutions
Vitec Imaging Solutions is a division of the Vitec Group, an
international group principally serving customers in the broadcast
and photographic markets. Vitec Imaging Solutions designs,
manufactures and distributes premium branded photographic and video
equipment such as tripods, bags, filters and lights for
professional and hobbyist photographers, and content creators. The
portfolio includes nine premium brands - Manfrotto, Gitzo, JOBY,
Colorama, Savage, Avenger, Lowepro, Syrp and Rycote - that
positions Vitec Imaging Solutions as the leading global provider of
accessories within the fast-growing imaging market. Thanks to Vitec
Imaging Distribution, all the products are directly distributed in
11 markets across the world and in many others thanks to a
qualified network of retail partners.
Savage Universal
From its beginning in 1937 as a manufacturer of quality board
and paper products, Savage has provided photographers the essential
elements for success. Family-run from the start, Savage has a
commitment to quality and innovation that defined the company in
the beginning and continues to define it today. Products such as
photographic backgrounds continue to be a key focus of Savage’s
manufacturing efforts, but there’s much more to the Savage story.
The company continues to develop innovative products, especially in
the digital arena, to meet the needs of today’s more diverse
photography community – professionals and semi-professionals alike.
All paper is FSC (Forest Stewardship Council) certified and 100%
recyclable and Savage’s main paper mill supplier is net zero on
electricity, having its own hydroelectric dam which covers all of
its electricity requirements. In 2019, Savage acquired Superior
Specialties Inc., which continues to trade under the name of
Superior Paper Specialties, LLC.
More information can be found at: www.savageuniversal.com and
www.superspec.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211116006141/en/
Dan Turk - danielturk@maxborgesagency.com (516) 445-5261
Vitec Imaging Solutions Spa T +39 (0424) 555 855 F +39
(0424) 808 999 imaging@vitecgroup.com
www.vitecimagingsolutions.com
Videndum (LSE:VID)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Videndum (LSE:VID)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024