The combined company has 2,000 customers in more than 100 countries, a comprehensive portfolio of broadcast technology products and a worldwide team of sales and support personnel.
“For more than 30 years, both Pro-Bel and Snell & Wilcox have offered compelling best-of-breed solutions that help to solve real-world customer issues,” said Graham Pitman, CEO of Pro-Bel. “During this time the two companies have developed highly complementary product ranges with very little overlap; well-deserved reputations for innovation, product quality and reliability; and a joint commitment to excellence in customer service. Through this merger, the new combined company will build on this strong foundation to create one of the industry’s great companies.”
The companies said the merger will allow the new firm to:
- Offer more comprehensive solutions to customer needs in order to create benefits to customers in terms of revenue generation, total cost of ownership and time to market.
- Use its expanded pool of engineering talent to create industry-leading products, and to deliver them to market in less time.
- Reinforce and expand its global presence to be more responsive to customer needs.
- Enhance the company’s joint customer service offering so that it can respond more quickly and comprehensively to evolving customer needs.
- Continue to innovate and push the boundaries of image processing in the new “multi-screen” world.
“Our industry is in a period of dynamic transition,” said Simon Derry, CEO of Snell & Wilcox. “Traditional business models are being rewritten as we embrace the exciting opportunities in the multi-definition, multi-platform world of 21st century digital media. By joining forces we have created a company that has the talent, technology and resources to meet the evolving needs of our existing customers, while simultaneously taking advantage of new opportunities as they emerge.”
The management of the new company includes members of the executive teams of both companies, including Graham Pitman, CEO of Pro-Bel, and Simon Derry, CEO of Snell & Wilcox. Pitman has been appointed deputy chairman of the new company, and Derry will serve as CEO.
The transaction was supported by private equity investors Lloyds TSB Development Capital and Advent Venture Partners.