Latin America. A major deal was announced this week for the industry, with the agreement in principle for the sale of Christie's Broadcast and Professional Video business to Vista PHX, Corp., a new company created by former Vista Systems owners and industry veterans Clark Williams and Jeff Wilson.
The new Vista PHX, Corp., which will continue to operate out of Phoenix, Arizona, will acquire Christie's intellectual property and essential operational infrastructure for the Spyder, Terra, Phoenix and Mastering Gateway product lines.
This transition will return these video processing platforms to their origins, where they were initially developed and manufactured. In particular, the transaction will contribute to securing the future of the Spyder brand, considered a benchmark in uncompromising performance for live events, broadcast and high-end installations around the world. The Phoenix distributed content management system, Terra SDVoE platform, and Mastering Gateway series further bolster Vista PHX, Corp.'s ability to deliver end-to-end, mission-critical video processing solutions.
"Bringing Spyder and the other innovative lines of video processing back under independent ownership is a significant step. For our customers, this acquisition means continuity in the essentials and a greater ability to evolve where it really matters. The same team, the same engineering DNA, now with the clarity and autonomy needed to move forward with greater agility and invest more deeply in the platforms our customers rely on," said Clark Williams, CEO of Vista PHX, Corp.
Michael Phipps, Christie's chairman, said: "The divestment of the Broadcast and Professional Video group is in line with our continued focus on the company's long-term strategic priorities. We believe that returning this family of video processing products to Clark Williams, Jeff Wilson and the Vista PHX team is the best way to position them for sustained growth, under a proprietary focused on these solutions. We are committed to ensuring a smooth and responsible transition for employees, customers and partners."
The transaction is expected to close by the end of February and will see the return of some of the industry's most respected video processing technologies to the innovators who originally designed, developed and promoted them.
