Sale of JOBY brand to VIJIM
Videndum sells JOBY consumer brand to VIJIM; proceeds used to reduce debt.
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Videndum plc ("Videndum", the "Company" or the "Group"), the international provider of premium branded hardware products and software solutions to the content creation market, announces that it has reached agreement to sell its consumer orientated JOBY brand to VIJIM, the maker of camera and smartphone accessories.
This sale supports the Company's strategy to focus on core professional markets.
Whilst undisclosed, the proceeds of the sale will be used to pay down the Group's debt. In addition, Videndum will retain inventory which will be released over time.
Videndum's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators ("ICCs"), professional musicians and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, carrying solutions, backgrounds, audio capture, and noise reduction equipment.
We employ around 1,300 people across the world in 9 different countries. Videndum plc is listed on the London Stock Exchange, ticker: VID.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.