Norway based – Barco, a global leader in digital visualization, announced today that it has acquired 61% of the shares of projectiondesign®, a front-runner in projection technology, from private equity fund Herkules Capital. The remaining shares of projectiondesign®, which is based in Norway, are held by minority shareholders.
The combination of Barco and projectiondesign® creates a market leader in projection solutions for both large- and mid-venue markets. The transaction advances Barco’s strategy to expand into the mid-segment of its target markets and to strengthen its number one position in high-performance projection technology.
Projectiondesign® develops and manufactures compact projectors for a variety of professional markets including training and simulation, visitor attractions (museums, theme parks), scientific visualization, collaboration rooms (Corporate AV) and control rooms. The compact projectors are equipped with high-quality optics, high resolution and LED illumination, and feature quiet operation. The company custom-designs and develops all optics, hardware, software and industrial design for each projector model in-house. The company employs about 200 people and achieved sales of approximately €57 million in 2011.
“As a Projectiondesign® is a very well respected leader for projectors in the below 10k lumens range for professional markets. The company enjoys an enviable reputation for combining innovative technology with leading design,’ comments Eric Van Zele, Barco’s CEO and President. “This investment clearly underscores our determination to pursue global growth in all mid-segment markets. With projectiondesign®, we will expand our portfolio to offer state-of-the-art solutions for the Simulation, Virtual Reality and Corporate AV markets as we continue to leverage our global sales coverage and our channels in Asia and Latin America in particular.’
