Barco has acquired the business of System Technologies, based in Torhout, Belgium. Started by Frederic Opsomer in 1995, System Technologies specializes in innovative designs for special projects in the Rental & Staging markets. The company counts designs for special projects such as the Olympics 2004 opening & closing ceremonies as well as the design of specialized elements in the upcoming worldwide U2 tour, amongst its most recent references. The company has annual sales of approximately euro 5 million and is profitable. The total cost for the transaction is less than half of sales.
The transaction will see one of Barcos fastest growing divisions, Barco Media & Entertainment, incorporate System Technologies expertise into its own total solution offering toward the important Rental & Staging and fixed installation markets.
The transaction underpins Barcos belief that its market leading position in the rental & staging market is driven by providing ground-breaking technologies and products to its worldwide Rental Partner network. System Technologies, in its role as a consultant to show and set designers worldwide, also plays a key role between end user, rental company and product supplier. The acquisition of the business of System Technologies will allow Barco to move up the value chain and further strengthen its total solution offering to the rental & staging markets by catering to the design needs of the growing special projects market segment.
Stephan Paridaen, president, Barco Media & Entertainment, commented: At Barco, we firmly believe in the value of strategic partnerships with our Rental & Staging Partners. The acquisition of the business of System Technologies gives our Rental Partners a focused yet independent group of experts within Barco to help them realise innovative designs for extra-ordinary projects. Paridaen continues: Barco will work closely with its Rental Partners to gain an in-depth understanding of the creative needs and driving factors that influence the end-users (show designers) and assist them in the fulfillment of specialized creative projects.
Frederic Opsomer, founder of System Technologies, who will head up the group within Barco, adds: The transaction is of great strategic value to both Barco and System Technologies. By merging our operations with a long established industry player and recognized technology leader such as Barco, we become part of a network of technology and market experts that understand the business we are in. This will also allow us to continue to express our creativity, now backed by decades of technology expertise and a drive to innovate. This deal will bring great value to both parties as well as to Barcos Rental Partners, who can now depend upon our combined yet independent expertise to help realise their projects.
For more information: www.barco.com
