LONDON (ShareCast) - (ShareCast News) - Vitec Group reported on Monday it had recently carried out two acquisitions.
The international provider of products and solutions to the broadcast and photographic markets said the assets and liabilities were acquired from DayMen on 22 September 2017 for $10.3m in cash, on "a debt/cash free basis", with an expected total investment of $32m, including deal costs.

Those assets and liabilities were primarily comprised of the JOBY and Lowepro brands.

Vitec also announced that it had acquired RT Motions Systems on 20 September 2017, a high technology business, for up to £3.4m in cash, including deal costs.

Stephen Bird, the chief executive of Vitec, commented on the benefits of both acquisitions, saying: "Both of these acquisitions are an excellent strategic and technological fit, have great prospects, and the two acquisitions together are expected to materially enhance earnings per share in 2018 and beyond."

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