Vitec snaps up Camera Corps
Thursday 12 April 2012
The founder of a TV camera company whose specialist equipment is used at everything from top sporting events to the reality show Big Brother is celebrating its £8m sale.
Laurie Frost sold Camera Corps yesterday to the listed photography and broadcasting group Vitec, which said it was keen to buy the company before the 2012 Olympics.
Camera Corps operates an array of sophisticated remote camera technology including Q-Ball, which provides high-definition images using small, highly flexible devices. The company has worked on previous Olympics and its bespoke cameras have been built into a swimming pool float, an archery target and a ski slalom pole. It has also provided a system of up to 45 robotic cameras for reality TV.
Mr Frost and senior management will stay on after the sale.
The broker N+1 Brewin said: "We estimate Camera Corps will achieve sales of £7m-£8m in the present Olympic year, driving operating profit of between £1.5m and £2m."
But it added that it was a "lumpy business with sales boosted by major sporting events" and next year's revenues are likely to be lower.
Vitec provides services such as tripods, lighting and other devices for broadcasting, government, military and aerospace clients.
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