Contex and Vidar merge to create world leading scanning technology company
Contex Holding A/S, the leading global large format scanning group has acquired Vidar Systems Corporation, Inc. The combined group will have a turnover of more than $50 million in 2002. The transaction allows Contex to consolidate its leading position in the large format scanner market and provides a strong market position in the adjacent medical film digitizer market.
Vidar is a leading supplier of large format scanners and has in recent years had tremendous success in the market for film digitizers for diagnostics and treatment, in which it has become the market leader in medical film digitizers, based on the CCD technology.
President and CEO of Contex, Steen Borg Jensen comments “Contex has for some time been looking into expanding its business operations into new scanning market segments and the merger with Vidar is of great strategic importance. It is a very positive development for both companies”.
He adds “The strong market growth in large format reproduction and medical film digitizing is our premise for this merger. The addition of Vidar’s know-how in the medical film digitizer business and experience in the large format scanning business are essential to our future growth plans.
Trevor Fennel, President and CEO of Vidar continues ”We believe the merger of Contex and Vidar will create an even better basis for further international expansion and interesting products and services development. The combined company has a strong technology base for future product development in our core markets and in new adjacent markets.“
Contex is owned by EQT, a group of Scandinavian private equity funds, who acquired the company in spring 1999.
For further information:
Steen Borg Jensen,
President and CEO, Contex Holding A/S
Chairman, Vidar Systems Corporation, Inc.,
Tel. +45 2014 4438
Trevor Fennell, President and CEO, Vidar Systems Corporation, Inc.,
Tel. +1 (703) 471 7070
Contex is the global market leader in large format scanners. The company’s 2001 net sales were approximately US$ 30 million. Contex has R&D operations in Allerød, Denmark, a production facility in Svendborg, Denmark and sales offices in Denmark and USA. Contex employs 165 people. Contex large format scanners are used in the CAD, GIS and colour reproduction markets.
Vidar is a supplier of large format scanners and medical film digitizers. The company’s 2001 net sales were approximately US$ 20 million. Vidar is based in Herndon, VA, USA, and employs 110 people. Vidar is the global market leader in medical film digitizers.
EQT is a group of private equity funds with equity commitments exceeding EUR 3 billion and is sponsored by Investor AB, the publicly listed holding company of the Wallenberg foundations. The business concept of EQT is realised by acquiring and developing high-quality medium sized companies in Northern Europe. EQT serves as an active owner and works in close co-operation with the management of the companies it acquires, to develop and implement value-enhancing strategies.
Please visit: www.eqt.se