Vitec Group Acquires Rycote In £8.5m Deal

The Vitec Group has acquired Rycote Microphone Holdings in a deal worth up to £8.5 million.

There are opportunities across all three of Vitec's divisions to sell Rycote products in conjunction with SmallHD monitors, Teradek transmitters, Flowtech tripods, Anton/Bauer batteries, JOBY GorillaPods and Manfrotto products.

Rycote will become part of Vitec's Creative Solutions Division, led by Nicol Verheem. Simon Davies, Rycote's Managing Director, will remain with the company post acquisition. The acquisition is in line with Vitec's strategy to enter adjacent markets.

Stephen Bird, Group Chief Executive of Vitec, said: "I am delighted to welcome the Rycote team to the Group.

"Vitec operates primarily in the video production market and this acquisition opens up the opportunity for us to enter the growing audio capture market, adding innovative and complementary products for our customers, and creating additional value for our shareholders.

"Rycote has exciting product development plans that will add real value to Vitec and our customers, and we look forward to developing the business."

www.vitecgroup.com