A Northamptonshire video capture technology company with a global focus on the leisure sector has its sights set on a significant acquisition.
Visum Technologies has entered into exclusive non-binding Heads of Terms (HoT) to acquire the entire share capital of Socrates Imaging B.V., a company based in the Netherlands, and Socrates Imaging Ltd, a company based in the United Kingdom.
The deal involves a combination of cash payment and new ordinary shares in Visum totaling €2 million.
Established in 1990, Socrates Imaging has a legacy in photo and video capture souvenirs within the travel and leisure market.
Marc Dixon, CEO of Visum, said: “We are thrilled to announce the heads of agreement for the acquisition of Socrates Imaging. The union of our organizations, leveraging Socrates Imaging’s extensive experience, over 150 client contracts and cutting-edge technology, promises to be mutually beneficial.
“This exciting partnership will enable Visum to deliver innovative capture technology, further enhancing our commitment to providing exceptional solutions to our valued customers.”
Pim Sonepouse, founder of Socrates Imaging, added: “In 1990, Socrates developed the first digital ride photo system, quickly followed by a series of new-to-market and innovative products.
“The quality and reliability of our photosystems are second to none, with the best yet to come in season 2024. I am very excited about the potential collaboration with Visum. It will both accelerate our growth and bring exciting new products and features quicker to market.”
