Kronach. – Loewe AG, Kronach has taken over 78.8% of shares in MacroSystem Digital Video AG, Wetter (Ruhr). Acquisition of the company during its self-administered insolvency was conditional on various factors including the agreement of the creditors’ meeting and confirmation of the self-administered insolvency plan by the insolvency court. The purchase price lies in the lower single-digit million range. The company’s founders shall retain a minority interest in the future.
It is planned that MacroSystem Digital Video AG will primarily take over contract development in the software sector for Loewe. However their own business activities will continue without interruption. “As such we will strengthen our expertise through product-oriented multimedia software and assume production for MacroSystem. Loewe is systematically further developing its position as a major premium brand for home entertainment systems” commented Loewe CEO Friedrich C. Löhrer on the new collaboration with MacroSystem Digital Video AG. CFO Oliver Seidl added: “The self-administered insolvency of MacroSystem has given us a great opportunity to optimally orientate the company towards the demands of the multimedia future and a close working relationship with Loewe. Over the past few years, MacroSystem has systematically built up its activities in the home entertainment business segment by means of innovative product solutions in particular Blu-Ray/hard disk recorders for digital television. Loewe will make use of this expertise, in particular for extremely high performance, customisable electronic programme guides but also for the processing and archiving of video, audio and picture data. Moreover, this platform provides an excellent basis from which to further drive the merging of internet and television applications in the future.
MacroSystem, founded in 1991, produces and sells high quality products in the video and editing technology sector as well as the home entertainment sector. It currently employs a workforce of 40 and is active on both the domestic German and international markets. Company turnover in 2009 was approx. €5 million. Half of its employees are hard and software engineers. The focus of product development is on merging different digital consumer electronics applications into one single multimedia device – from TV and radio reception through to film, photo and video archives as well as surfing online. In this respect, the company has succeeded in building up its considerable strengths in recent years.