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MillimeterSnell & Wilcox Acquires Post Impressions
Sep 5, 2001 12:00 PM
September 5, 2001, Petersfield, UK - Snell & Wilcox today announced the acquisition of Newbury-based HD workstation manufacturer Post Impressions. The acquisition is fully supported by the shareholders of Post Impressions, headed by Advent Venture Partners.
Sir David Cooksey, chairman of Advent Venture Partners, commented: "We are pleased to have completed the sale of Post Impressions after concluding that Snell & Wilcox represents the ideal channel for marketing Post Impressions' innovative products."
Post Impressions, based in Newbury, was established in April 1998 as the result of a management buyout from the hardware division of Discreet Logic.
Harry Cross, Snell & Wilcox deputy CEO, confirmed: "We are delighted that our negotiations have been successful. The development of innovative postproduction products has played a very important role in the growth of Snell & Wilcox over the past few years and we are confident that the benefits of this acquisition will be greater than the sum of its parts."
According to Phil Haines, managing director of Post & Post Production, Snell & Wilcox: "The growing demand for HD technology, in which Post Impressions and Snell & Wilcox share complimentary expertise, makes this marriage of people and product ideal for both parties. I'm particularly impressed with the piCASSO colour corrector, for example. There's absolutely nothing else out there to touch it.
"Post Impressions represents a key building block in our strategy for the future - especially since I am convinced that HDTV will be happening sooner than many people think."
Post Impressions' SpiRINT Diskstation is a proven platform for HDTV Post Production with installations in key facilities worldwide. Development and support for Post Impressions' SD and HD products and technology will continue.
Terms of the acquisition were undisclosed. Any further developments will be announced as they occur.
Post Impressions people and technology will be present on the Snell & Wilcox stand (1.231) at IBC in Amsterdam.
Continue the discussion on “Crosstalk” the Millimeter Forum.