KORTRIJK, Belgium – Barco announced that it has acquired the products, intellectual property (IP) rights and know-how of Element Labs, Santa Clara, Calif., and that the "Element Labs" brand will no longer be used. Structured as an asset sales transaction, Barco obtains all product designs, rights and intellectual property of Element Labs, without assuming the liabilities of the former company.
The transaction is expected to extend Barco's reach as a provider of LED, projection, image processing and lighting products to a broader array of price points and budget levels in the media and entertainment market.
"This expands Barco's portfolio for the mid-range markets," said Eric Van Zele, Barco's president and CEO. "Element Labs' products in these markets have proven their worth on many occasions and perfectly complement Barco's more high-end oriented market portfolio."
Paul Matthijs, VP of Barco's Video & Lighting Solutions business, added that "this transaction will help to accelerate the turnaround which is underway in our video and lighting activities, by enabling Barco to address a wider segment of the market, and further leveraging Barco's existing sales, marketing, and service capabilities."
The core team of Element Labs in Santa Clara, Calif. will function as Barco's competence center for creative LED solutions, whereas Barco Kuurne (Belgium) will remain focused on tiled LED solutions.
Barco will announce its new mid-range LED products in the coming months.
For more information, please visit www.barco.com
