TV One Acquires Vine
Sep 7, 2004 6:54 PM
TV One (www.tvone.com) has acquired 100 percent of the outstanding shares of Vine Micros (www.vinemicros.com), located in Margate, Kent, England. The transaction was closed on August 29.
David Barnes, CEO of TV One, says, “This is a natural step in the decade-long relationship between Vine and TV One. The close interaction between the two companies has always worked to our mutual advantage. TV One’s sales and marketing expertise, coupled with Vine’s R&D and manufacturing capability, has served both companies very well. Vine’s intellectual property, including its CORIO and CORIO2 video conversion technologies, is a valuable asset that figures prominently in TV One’s short- and long-term product development plans for the professional AV and broadcast markets.
“This gives us an established base of operations to provide sales and technical support throughout Europe for the entire range of TV One products. We will move swiftly to integrate our products into the existing Vine distribution network. This complements coverage afforded by our offices in the USA, Latin America, and Asia.”
Richard Mallett, managing director and head of research and development for Vine, says, “After 20 years of day-to-day company management as well as heading our R&D program, I am excited to now be able to focus all my efforts on developing new technologies and products. Our CORIO2 technology and future derivatives of it will now receive my full attention.
“Because of our long-term relationship, the acquisition by TV One is a comfortable fit, and I look forward to a bright future for TV One Europe. The broad range of TV One products will be a great compliment to the current range of Vine products and make the complete package very attractive to our customers.”
Barnes further says, “In addition to assuming the position of managing director of TV One Europe (soon to be renamed from Vine Micros), I will continue my duties as CEO of TV One in the USA. Therefore I am pleased to announce that Steven Mattingly has been appointed to the post of general manger of TV One Europe. Steven will also be a director of the company. His previous position as Vine’s international sales manager and most recent post as managing director of Scancom make him an ideal choice to provide the day-to-day management necessary. I have known Steven for many years and am confident in his leadership abilities.”
