The transaction will see one of Barco's fastest growing divisions, Barco Media & Entertainment, incorporate System Technologies' expertise into its own total solution offering toward the important rental and staging and fixed installation markets. The transaction underpins Barco's belief that its market-leading position in the rental and 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 and staging markets by catering to the design needs of the growing 'special projects' market segment, the company believes.
Stephan Paridaen, president of Barco Media & Entertainment, says: "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 fulfilment of specialized creative projects."
Frederic Opsomer, 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 which understands 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 Barco's Rental Partners, who can now depend upon our combined yet independent expertise to help realise their projects."
Barco Media & Entertainment provides specialized visualization solutions targeted at the needs of the Media & Entertainment industries. It counts names such as U2, Versace, Madonna, Daimler Chrysler, Merrill Lynch, Quiksilver and Deutsche Bank amongst its key references.
(Lee Baldock)
