[July 01, 2011] Ricoh to acquire Pentax imaging systems business from HOYA Tweet Jul 01, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- Ricoh Company, Ltd., a producer of electronic products, primarily cameras and office equipment, has entered into a definitive agreement to acquire PENTAX Imaging Systems business from Hoya Corporation, for an estimated purchase price of around JPY10,000 million ($124.18 million). Both the entities are based in Japan. Hoya Corporation, engaged in the information technology and eye care businesses, will continue to operate its business other than the PENTAX imaging systems business, such as digital camera modules, DVD pick-up lenses, endoscopes, synthetic bone, and voice synthesis software. The current lineup of Pentax's products includes medium format, K-mount and Q-mount interchangeable-lens digital cameras, as well as the Optio brand of compact cameras. Upon completion of the transaction, Ricoh will use the PENTAX brand name for some of its digital camera products and HOYA will continue to use the PENTAX brand name for their endoscopes and other products. The acquisition will be conducted by HOYA transferring the PENTAX Imaging Systems Business to a newly established subsidiary through an absorption-type split and business transfer. Pursuant to the transaction, Ricoh will then acquire 100% of the outstanding shares of the new company. The business is expected to be a wholly owned subsidiary of Ricoh after the transfer of management rights. The transaction is expected to close by October 1, 2011. Deal Value (US$ Million) 124.18 Deal Type Acquisition Sub-Category Asset Purchase Deal Status Announced: 2011-07-01 Deal Participants Target (Company) Hoya Corporation - Pentax Imaging Systems - Japan Acquirer (Company) Ricoh Company, Ltd. Vendor (Company) Hoya Corporation Deal Rationale Ricoh, through this acquisition, plans to enhance its digital camera businesses, especially the interchangeable lens camera market, and create value-added businesses for taken photographs. Ricoh intends to establish a firmer presence in the consumer business, which has been a considerable challenge for it. Ricoh aims to provide more consumer-oriented offerings in the field of digital cameras and video conferencing systems, network appliances, and others. The acquisition possibly provide Ricoh an entry into the image archiving business using medium format digital cameras and expand security related products. [ Back To TMCnet.com's Homepage ]