StockMarketWire.com - Broadcast and photographic market services provider Vitec Group said it had acquired film-making module supplier Amimon for $55.0m (£42.3m).

Animon, which consists primarily of an Israeli subsidiary, developed chipsets and modules for real-time wireless video transmission, primarily for professional filmmaking and high-end productions.

The deal would be funded from Vitec's committed bank facilities.

Vitec also said it's expectations for the year ending 31 December remained unchanged, with 'material' growth expected in earnings per share.

'Vitec is the natural home for Amimon and I am really delighted to welcome this talented team of engineers to the group,' chief executive Stephen Bird said.

'They bring exclusive software and hardware expertise that will add real value to our customers and our shareholders.'

'Amimon is the technology of choice for wireless equipment used in the cine market.'

'This acquisition opens up the exciting opportunity for Vitec to drive growth by taking wireless technology into adjacent markets, developing innovative new products to give our customers greater flexibility in image capture and content creation.'




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