Kortrijk, Belgium, 01 February 2012 – Barco announced today it has acquired the assets of IP Video Systems (IPVS), a California-based innovator in networked visualization solutions. The acquisition fits within Barco's overall strategy to invest in high-performance networked visualization technology, and will strengthen the company's product portfolio in a large number of markets.
IP Video Systems is a leader in hardware and software technologies for real-time, high-definition media streaming, recording and management over IP networks. Its product portfolio comprises a range of encoders and decoders, multi-stream clients, digital media servers and management systems. The company's main target markets include networked control rooms, healthcare, simulation & training and tele-collaboration.
All of the approximately 30 employees working at IPVS's offices in Sunnyvale, California, will join Barco's Corporate Technology and Platforms team, a cross-divisional R&D lab conducting technology and platform development that is applicable across Barco's target markets. In this way, IPVS's current and future technology innovations will find their way into a large number of Barco networked visualization solutions.
Stronger focus on networked visualization
"This acquisition perfectly fits our corporate strategy to invest in high-performance networked visualization technologies," says Eric Van Zele, CEO of Barco." It will without a doubt boost our revenues through broadening our product portfolio. We have identified a large number of IP connectivity related growth opportunities in our core markets, hence we are convinced that IPVS's know-how will enable us to strengthen our leadership positions in these areas. Because both companies serve the same markets, the integration of IP Video Systems' products and systems will be quick and seamless. Furthermore, strengthening our cross-divisional R&D resources is in line with Barco's intent to dedicate more resources to the development of common innovative technology platforms. Furthermore, IP Video Systems will give strategically important presence in Silicon Valley.
Leverage for growth
Johan Pirot, President of IP Video Systems, comments: "By joining Barco, a global leader in professional visualization solutions, we strengthen our go-to-market position– which is vital to scale up our business. It will allow us to serve our existing customers in the most optimal way, while at the same time gain access to Barco's well-developed sales, marketing and product management organization. What's more, the respected Barco brand name will open new doors and opportunities for IPVS. This is our best guarantee to continue growing and developing innovative networked solutions."
About IP Video Systems
IP Video Systems focuses exclusively on providing rich collaborative experiences to its customers. The Sunnyvale, California, based company designs and manufactures hardware and software for enterprises, agencies and governments in 15 countries since 2003.
Barco, a global technology company, designs and develops visualization products for a variety of selected professional markets. Barco has its own facilities for Sales & Marketing, Customer Support, R&D and Manufacturing in Europe, North America and Asia Pacific. Barco (NYSE Euronext Brussels: BAR) is active in more than 90 countries with about 3,500 employees worldwide. Barco reported sales of 897 million euro in 2010.
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