Barco buys majority in Norwegian projector maker
BRUSSELS Dec 19 (Reuters) - Belgian visual technology company Barco said on Wednesday it had acquired a majority stake in a Norwegian projection technology firm to help it push deeper into the mid-sized segment of the projection market.
Barco, whose main growth engine in recent years has been digital cinema projectors, said it had bought a 61 percent stake in projectiondesign from private equity firm Herkules Capital. The remaining shares are held by minority shareholders.
Barco said the combination created a market leader in projection for large- and mid-sized venues and helped Barco expand into the mid-market segment and strengthen its number one position in high-performance projection technology.
Projectiondesign develops and manufactures projectors for a variety of professional markets, including training and simulation, visitor attracts, such at a museums and theme parks, and control rooms. It employs about 200 people and had 2011 sales of 57 million euros ($75.3 million).
No financial details of the deal were disclosed. ($1 = 0.7568 euros) (Reporting By Philip Blenkinsop)