Consumer electronics manufacturer Sakar International announced the acquisition of the Vivitar worldwide brand name and associated intellectual property from Syntax-Brillian Corporation, the parent company of 70-year-old photographic equipment maker Vivitar Corporation.
The acquisition equips Sakar with a well-known camera brand that the company will use to expand its own mass-market camera line, add higher-price camera SKUs, introduce other Vivitar-branded consumer products, and gain overall market visibility.
Sakar is a market leader in digital cameras and related accessories to the mass retail channel and a producer of various other technology, toy and consumer electronic products. The companyís current camera products retail from $20 to $100.
The Vivitar-branded cameras that Sakar plans to introduce will sell for $70 to $300, enabling the company to reach a new market segment that will significantly broaden its customer base and market penetration. The new products will leverage Vivitarís existing SKUs, patents and engineering expertise.
In addition, Sakar plans to add other Vivitar-branded products, including camera accessories and digital photo frames, as well as explore licensing opportunities in various categories. Sakar currently holds licenses for major brand franchises including Crayola, Hello Kitty, Star Wars, Leap Frog, Spiderman, The Incredible Hulk, Iron Man, Jeep, Made for iPod and For Dummies.
"This acquisition positions our company to substantially increase market share in the camera space as well as leverage the Vivitar brand name in numerous other ways," said Sakar CEO and founder Charles Saka. "It is a core building block for our next phase of growth."
"Linking ourselves to Vivitar will strengthen our presence on the retail shelf while also enabling retailers to buy more product from a single source," added Sakar COO Ralph Sasson. "We will now have an even more extensive product line at multiple price points."
Vivitar was founded in 1938 and grew to become a leading manufacturer of both digital and film cameras, including one of the broadest product lines of digital cameras spanning entry-level VGA cameras to twelve-megapixel digital cameras with zoom optics for the amateur and serious digital photographer. The company was acquired by Syntax-Brillian in 2006.
Sakar's acquisition of Vivitar was completed on August 21, 2008. Sakar did not purchase Vivitar's equipment, facilities or receivables. Terms were not disclosed.