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Thomson Takes Stake In Japanese Video Software Firm

The public tender offer is for Canopus, which sells PC-based, multi-format editing systems and other video-related technology.
MANHASSET, N.Y. — France-based Thomson has signed an agreement to acquire 33 percent of the outstanding shares of Canopus Co. Ltd, a Japan-based supplier of high-definition desktop video editing software.

Through a private transaction with Canopus chairman and CEO Hiroshi Yamada, Thomson also disclosed today that it will launch a public tender offer for the remaining Canopus shares on Tuesday (Dec. 6).

The value of the private transaction combined with the pending tender offer would represent $107.5 million. For the 12-month period ended Aug. 31, 2005, Canopus had net debt of $6.1 million and revenue of $58.9 million.

In addition to offering leading PC-based, multi-format digital and HD video editing systems, Canopus is a leading supplier of high-performance video encoding/decoding technology. Canopus also provides leading digital media conversion technologies, including a range of specialized devices that bridge the video/audio and PC worlds, allowing content to be moved easily between these different environments.

"Canopus brings important products and technologies that allow us to address multiple facets of our growth strategy and accelerate key elements of our R&D roadmap," said Marc Valentin, president of the Grass Valley business within Thomson, in a statement.

The planned public tender offer is expected to last for a period of at least 42 days, and is anticipated to close Jan. 16, 2006.