April 13, 2007
Axsys buys Super Bowl camera-maker
Rocky Hill-based Axsys Technologies Inc. said it has acquired a privately held manufacturer of aerial camera systems, Cineflex , for $27 million in cash. Cineflex is best-known as the manufacturer of the cable-mounted cameras used to broadcast above the field during the Super Bowl. The value of the deal could increase to $42.5 million if Grass Valley, Cal.-based Cineflex hits certain revenue targets over the next three years. The acquisition bolsters Axsys' market position as a builder of stabilized camera equipment, opening the door for Axsys to move into motion picture and electronic news gathering, the company said. Cineflex was part of The Helinet Group, based in Southern California.
WBJ Web Partners
Most Recent
Most Recent
0 Comments