Ross Video to acquire Codan Broadcast
Published: WORSHIP
AUSTRALIA: Ross Video Ltd has entered into a letter of intent to buy 100 per cent of the shares of Codan Ltd’s wholly-owned Melbourne-based subsidiary, Codan Broadcast Products Pty Ltd.
The sale is subject to the finalisation of due diligence and is scheduled for completion at the end of August.
The new owner will change the name of Codan Broadcast and its product branding to Ross Video, but plans to continue operations from the current premises in Melbourne. Codan Broadcast’s products, including its flagship line of routing systems, will become part of the Ross product portfolio.
‘We are excited about the addition of Codan Broadcast,’ said David Ross, CEO of Ross Video. ‘We have long admired the design and engineering of their products. We are delighted that they will become part of Ross and that customers globally will benefit from the dramatically expanded market access that Ross brings to the table.’
‘We believe that this transition is great for Codan Broadcast customers,’ commented Mike Heard, CEO of Codan Broadcast. ‘Ross has a great reputation for customer service and support as well as a long track record of continuing to invest in product development and product enhancements.’
Ross hopes that Codan Broadcast’s significant presence in the Australian market will provide it with greater access to and better support for Australian customers.