Pro-Bel And Snell & Wilcox Announce Merger

Pro-Bel and Snell & Wilcox has announced the merger of their businesses and the creation of a new joint company.
The companies said that the merger created a "formidable competitor" in the digital media sector.
The combined company has two thousand active customers in more than 100 countries, a comprehensive portfolio of best-in-class products and a world-wide team of sales and support personnel.
Graham Pitman, Chief Executive Officer of Pro-Bel, said: "For more than thirty years, both Pro-Bel and Snell & Wilcox have offered compelling best-of-breed solutions that help to solve real-world customer issues.
"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 merger of Pro-Bel and Snell & Wilcox brings tremendous value to the new company's customer base. Specifically, the new company will:

• 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 in order 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.

Simon Derry, Chief Executive Officer of Snell & Wilcox, said: "Our industry is in a period of dynamic transition. 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, Chief Executive Officer of Pro-Bel and Simon Derry, Chief Executive Officer of Snell & Wilcox. Pitman has been appointed Deputy Chairman of the new company and Derry will serve as Chief Executive Officer.
The transaction was supported by private equity investors Lloyds TSB Development Capital (LDC) and Advent Venture Partners.
Further information is available at: www.pro-bel.com and www.snellwilcox.com.
(KMcA/BMcC)