Vitec Group acquires Rycote
- Details
The acquisition will enable Vitec, a camera supports maker and distributor, to bring complementary audio products to its customers whilst growing the Rycote brand, which will become part of the Creative Solutions division. Rycote MD Simon Davies will remain with the company.
Davies comments: “We are thrilled to become part of the Vitec Group and I’m really excited and confident that we can continue to go from strength to strength; designing, manufacturing and selling our fantastic Rycote products.
“We are looking forward to celebrating 50 years of Rycote next year and, as we enter into this new chapter, we remain committed to serving the needs of our professional audio customers and exploring other markets for our existing and new products.
“Vitec has an incredible portfolio of premium brands in the fast-moving and growing ‘image capture and content creation’ market, so this move also brings great opportunities for Rycote.”
Stephen Bird, group chief executive of Vitec, adds: “I am delighted to welcome the Rycote team to the Group. Vitec operates primarily in the video production market and this acquisition opens up the opportunity for us to enter the growing audio capture market, adding innovative and complementary products for our customers, and creating additional value for our shareholders. Rycote has exciting product development plans that will add real value to Vitec and our customers, and we look forward to developing the business.”
(Jim Evans)
