Thomson Completes Sale of Grass Valley’s Digital Film Equipment Product Line to Private Investors
Paris, France/Nevada City, USA – Thomson (Euronext Paris: 18453; NYSE: TMS) has announced that the sale of its digital film equipment product line, formerly a part of its Grass Valley Business division, to private investors led by PARTER Capital Group, was completed on November 28, 2008. This sale, which was announced on September 4, completes the transfer of all the resources of the digital film equipment business—which sold film-scanning hardware and post-production software to Hollywood and other film studios worldwide--including staff, intellectual property, products in manufacture, and spares.
The new business will now take over the active development and marketing of the digital film equipment lines, including the Spirit® film scanners—used to digitize motion picture film, Bones™ workflow tools—used to create end-to-end post-production workflows for digitized motion picture film and electronically-captured material, and the LUTher color space management solution—used to preview and calibrate video displays to match the characteristics of final release print film stock. The new company is headed by PARTER Capital Group, a German private equity advisory group, and development and manufacture of these advanced products remains in Germany.
At the completion of the business transfer, Thomson reiterated its commitment to the film and post production markets across all its operations, including its Technicolor Content Services operations, a global leader in the post production services industry.
Certain statements in this press release, including any discussion of management expectations for future periods, constitute “forward-looking statements” within the meaning of the “safe harbor” of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements due to changes in global economic and business conditions, ”media and entertainment” markets, and regulatory factors. More detailed information on the potential factors that could affect the financial results of Thomson is contained in Thomson’s filings with the U.S. Securities and Exchange Commission.
About Thomson: a leader in video solutions
Thomson (Euronext Paris: 18453; NYSE: TMS) is a leading provider of solutions for the creation, management, delivery and access of video, for the Communication, Media & Entertainment (CME) industries. Our clients are studios, broadcasters, content distributors (telco, satellite and cable operators) and an increasing range of professional users of video. We deliver superior value to our customers through a combination of industry leading technologies and services, enabling us to offer differentiated and innovative solutions based on a broad portfolio of Intellectual Property.
For more information: http://www.thomson.net.
About PARTER Capital Group
PARTER Capital Group is a private equity investment consultancy firm based in Germany and since 10 years in the market. The company focuses its activities on the acquisition of companies or business units in the traditional technology driven industries with a turnover volume of 20 to 300 million EUR. PARTER Capital Group is managed by entrepreneurs and hence the strategic approach for its investments is the long term growth perspective.
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