Struggling German Visual Solutions Firm Eyevis Acquired By Chinese LED Giant Leyard
April 17, 2018 by Dave Haynes
The big LED display manufacturer Leyard, based in China, has acquired the German video wall and display cube company eyevis – giving the company a greater sales and marketing foothold in western Europe and into the Middle East.
The announcement names both Leyard and Portland, OR-based Planar (which Leyard acquired) as the companies leading the deal. It is no particular surprise because eyevis was working its way through insolvency proceedings in Germany last year, so something needed to happen – either re-investment or being bought.
“This acquisition demonstrates our ongoing commitment to further geographic expansion and investment, specifically in Western Europe,” says Marco Bruines, CEO of Leyard EMEA. “It’s a great opportunity to bring together Leyard, Planar and eyevis’ strengths and resources in customer service and distribution to build the world’s leading visual solution products for our existing customers and new markets.”
“We are excited about integrating into a larger corporate environment and the enhanced possibilities for further development and sales opportunities,” says eyevis Chief Technology Officer Heiko Schaich. “It will provide a path for future growth and bring stability to our partners and customers after the strenuous times eyevis has experienced in recent months.”
Credit to the CTO to not saying everything’s been super-duper, and conceding things have been, using his term, strenuous.
The deal is expected to finalize within this calendar quarter. No terms were announced.