Ricoh buys Pentax for 1242 million

Posted On Sep 21 2019 by

first_imgIt seems this week is a popular one for selling companies. We already saw News Corp. sell MySpace for $35 million, and today Reuters is reporting that Pentax is being sold to Ricoh by Hoya Corporation, a company best known for its optical glass production. Ricoh, on the other hand, produces a variety of electronics but focuses primarily on cameras, as well as office equipment like printers, photocopiers, fax machines, and Software as a Service document management solutions.Hoya had initially acquired Pentax in 2007 specifically for Pentax’s medical technology. Pentax has had some good products within the last four years, but Hoya Corp. just doesn’t want to focus on the digital camera part anymore. Hoya will still hold the rights to manufacture and develop medical-related products, such as endoscopes, synthetic bone, and voice synthesis software, but it will pass the consumer camera part on to Ricoh, a company that already has a line of digital cameras.Though Ricoh has a long list of cameras in its roster, it primarily focuses on compact cameras and has yet to delve into the D-SLR world. The company will surely do so with the Pentax acquisition. Ricoh will start using the Pentax name on its Ricoh-branded products when the deal goes through in October. Hoya Corp. is said to have netted $124.2 million for the sale.Ricoh said in a statement that the “borderlines between office and home will fade.” The company plans to provide more “consumer-oriented offerings,” in areas like video conferencing systems and network appliances in addition to digital cameras.via Reuterslast_img read more