ETC set to acquire High End Systems
WORLD: ETC and Barco have confirmed that they are in conversations that will see the former acquiring lighting manufacturer High End Systems from the latter. Although no date for completion has been set, it is stated that ‘both parties are committed to moving forward with a successful transaction’.
‘For Barco, the divestment of its lighting activities is in line with its strategy to sharpen the focus on its core activities,’ said Wim Buyens, senior vice president of Barco’s Entertainment division. ‘We believe joining forces with ETC would enable High End Systems to realise its full business potential while providing ongoing support and opportunity development for its customers.’
‘We want to offer our employee-owners opportunities for greater personal success and continue to give our customers innovative products and services,’ commented ETC CEO Fred Foster. ‘We see adding High End Systems to the ETC family as an opportunity for both of those things.
‘Our plan is to continue High End operations from its current location in Austin, Texas,’ Mr Foster added. ‘We place a high value in not only the High End products, but also the employees that will join our ETC family with the completion of this acquisition. Both companies have similar core values when it comes to innovation and I know working together will be a great success.’