Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Vidikron Technologies Group (VIDIC) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Thomas who wrote (645)	1/27/1998 9:12:00 AM
From: Gerald Thomas	Read Replies (1) \| Respond to of 782

* PROJECTAVISION IN BID TO BUY VIDIKRON 514 Words 3646 Characters 01/26/98 Audio Week Warren Publishing, Inc. (Copyright 1998 by Warren Publishing, Inc.) * Projectavision said it has preliminary deal to buy Vidikron in asset-based agreement that would mesh marketers of Digital Light * Processing (DLP) projectors. Projectavision CEO Martin Holleran said company has hired Hambro America Securities as adviser and will need to raise $10-$20 million to complete purchase. Acquisition, which is expected to close within 90 days, is likely to include Vidikron's small U.S. work force, product inventory and assembly plant and clean room that's expected to open in Jersey * City in April. Both Vidikron and Projectavision sell projectors based on Texas Instruments' 2-chip DLP, but Vidikron adds 14 products, including 3-chip DLP, CRT- and LCD-based models. Not included in proposed purchase is Vidikron Industries, based in Milan, Italy, that manufactures merchandise displays, speakers and * amplifiers on OEM basis. Holleran said Projectavision has pursued deal for 6 months, attracted by "synergies" that Vidikron would * provide. In addition to expanding Projectavision beyond DLP projectors, Vidikron has wider distribution among AV specialty * dealers, where it competes with Runco. Indeed, Projectavision has sold Digital Home Theater projector through only handful of dealers since introduction last year, including Bjorn's Audio/Video in San * Antonio and Harvey Electronics in N.Y. Projectavision, which will give Vidikron access to commercial market via distributor Boxlight, has sold combo front/rear projector packaged with 60" screen at $10,000, but recently moved to sell front projector separately at $8,000. "One of the reasons we held back from Vidikron was not because of their products, but because of their service," said Bjorn's AV Buyer Darryl Wilkinson, among retailers we canvassed for reaction to proposed deal. "Their reputation was that they made great products, but if you had a problem with it as a dealer, they dropped the ball on customer service." By comparison, Wilkinson * said, "that's one of Projectavision's strengths." He described projected marriage as "a great match because it adds to the lineup * that Projectavision is going to be able to sell and it brings up Vidikron on the customer service end." As for what's in it for * Vidikron, alignment with Projectavision gives it access to Wall St. community and ability to raise cash, Pres. Giovanni Cozzi said. Privately held Vidikron reported unspecified profit on sales of $17 * million in 1997, but Projectavision said loss for 3rd quarter ended Sept. 30 grew to $1.75 million from $934,134 year earlier on sales * of $358,784. Projectavision DLP projector revenues had totaled $409,889 at end of 3rd quarter. Cozzi said: "We're beginning the era of HDTV and it's going to be a race for market share, so this makes both of us stronger." Cozzi and Exec. Vp James Wellnitz are expected to remain with Vidikron after sale is closed, Holleran said. Despite announcement on basic agreement, many loose ends have yet to be tied down. For example, Holleran said no decision has been made whether combined company would use singular or dual brand names. Moreover, while plans are moving forward on Vidikron Jersey * City assembly plant, Holleran said Projectavision will continue dealing with suppliers such as C-MAC and Como Products. C-MAC assembles Digital Home Theater projectors, while Como supplies plastic cabinetry. I0607 * End of document. DOCUMENT 1 OF 261 FF9802701216 * Holder Registers PROJECTAVISION INC. Stock 68 Words 668 Characters 01/27/98 06:29 Federal Filings Newswires (Copyright (c) 1998, Dow Jones & Company, Inc.) FORM 144 * ISSUER: PROJECTAVISION INC. SYMBOL: PJTV FILER: FIFE MARTIN D TITLE: Director BROKER: TUCKER ANTHONY INC SHARES REGISTERED: 15,000 DATE REGISTERED: 01/26/98