Vitec Videocom, a division of the Vitec Group plc, announced today that it has reached a conditional agreement to acquire Autocue. The pending acquisition is part of an ongoing strategic programme to deliver improved service, support and experience to Vitec Videocom’s customers worldwide, along with innovative products. Silverwood Partners initiated this transaction and acted as the exclusive financial advisor to Autocue.
Autocue, established in 1955 and a provider of a broad range of teleprompting hardware and software products, will complement Vitec Videocom’s portfolio of products for the broadcast, pro-videography, corporate and public sectors. The acquisition will help to ensure that customers receive a broader range of technologies and solutions that address the entire spectrum of requirements for studio and outside broadcast applications in terms of size and functionality.
Autocue and QTV (in the Americas) have been serving the broadcast industry since the 1950s. Autocue is the only company to offer the television industry a single solution for newsroom, scripting, automation, media management, video servers, broadcast monitors and teleprompters. Autocue is known worldwide for its service and dependability, serving such prestigious clients as the BBC, Bloomberg, NBC and CNN. Autocue's prompting solutions are compatible with all newsroom systems on the market and are used all over the world by broadcasters, production professionals, government facilities and corporate producers. See www.autocue.com for more details.
About The Vitec Group plc
The Vitec Group plc is an international Group principally serving customers in the Broadcast & Video, Photographic and Military, Aerospace and Government (MAG) markets. Listed on the London Stock Exchange with 2013 revenue of £315.4 million, Vitec is based on strong, well known, premium brands on which its customers worldwide rely. Vitec is organised in three Divisions: Videocom, Imaging and Services. Videocom designs and distributes systems and products used in broadcasting and live entertainment, film and video production and MAG. Imaging designs, manufactures and distributes equipment and accessories for photography and video. Services provides equipment rental, workflow design and technical support to TV production teams and film crews. See www.vitecgroup.com for more information.