Breaking News: Ricoh To Acquire Pentax

Posted by on Friday July 1, 2011 | Business

The Japan-based Ricoh Company will acquire Pentax from its parent company, Hoya, Ricoh announced this morning.

Ricoh, which produces produces copiers, printers, fax machines, and digital cameras, will now use the Pentax brand on some of its digital camera products, the company said.

The move is widely seen as an attempt by Ricoh to expand into the still percolating digital SLR market. Pentax, which is based in Tokyo, produces several DSLRs including its flagship model, the 16.3-megapixel K-5, which we reviewed back in February.

A few years ago Pentax survived a messy merger with the Hoya Corporation, an optics manufacturer. During the merger, rumors swirled that Pentax’ camera division would be sold off.

A press release from Ricoh on the planned acquisition is below after the jump. No mention is made on how much Ricoh is paying to acquire Pentax.

NEW RELEASE

Ricoh to acquire HOYA’s PENTAX Imaging Systems Business

Tokyo – July 1, 2011 – Ricoh Company, Ltd. (TSE: 7752; President & CEO: Shiro Kondo; hereinafter referred to as “Ricoh”) and HOYA Corporation (TSE: 7741; President & CEO: Hiroshi Suzuki; hereinafter referred to as “HOYA”) announced today that the two companies entered into a definitive agreement and concluded a contract regarding the acquisition of HOYA Corporation’s PENTAX Imaging Systems Business (hereinafter referred to as “PENTAX Imaging System Business”) by Ricoh (hereinafter referred to as “the Acquisition”).

On completion of the Acquisition, Ricoh will begin to use the PENTAX brand name for some of its digital camera products, and HOYA will continue to use the PENTAX brand name for their endoscopes and other products.

Furthermore, with the Acquisition, both companies will cooperate with each other to increase the value of the PENTAX brand.

July 1, 2011

Ricoh Company, Ltd.
HOYA Corporation

Tags:

COMMENTS

MORE POSTS

Introducing the all new Workbook.com! – The Perfect Blend of Style and Function

Posted by on Tuesday October 4, 2016 | Business, Social Media/Web

(Sponsored by Workbook) The Launch of the new Workbook.com Combines the Best User Experience and Access to the Best Talent. As the creative industry has rapidly evolved over the past several years, Workbook and its contributors have continued to keep pace with the latest trends. More photographers now direct live action, illustrators increasingly explore animation,... More

Brooks Institute, Hallmark Institute to Close

Posted by on Friday August 19, 2016 | Business

California-based Brooks Institute and Massachusetts-based Hallmark Institute of Photography have cancelled classes for the fall and announced plans to close down. The two schools, both private for-profit visual arts colleges, have struggled over the past decade with declining enrollments, financial stress, and management shake-ups. Administrators are also blaming new regulations regarding for-profit schools. “[R]ecent changes... More