Thomson Sells Its European Audio/Video Activities to Oristano
Oct 23, 2006
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Thomson today announced the signature of a definitive agreement to sell its European Audio/Video and Accessories (AVA) activities to Swiss group Oristano. AVA Europe is the consumer electronics activity of Thomson in Europe, present in more than 20 European countries. The agreement was signed yesterday in Paris by the two groups.
The sale of AVA Europe is in line with Thomson’s strategy to focus on providing technologies, services and equipment to the media and entertainment industries.
AVA Europe provides retailers with a wide range of audio and video products (DVD-REC –including Hard Drive Discs, home theatre systems, mp3 players), accessories (hook-ups, headphones, remote controls, video senders), as well as GPS.
AVA Europe has strong market positions in Europe and long-standing relationships with key retailers, such as Auchan, Carrefour, Casino, Kesa, Media and Metro.
AVA Europe will develop synergies with Oristano’s activities in telecom terminals and using IP for the home, and bring a paneuropean dimension to the combined business. AVA Europe products will continue to be commercialized under the Thomson and Skymaster brands. This transaction should be effective by year’s end.
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