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.
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.
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