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DPChallenge Forums >> General Discussion >> Camera maker Pentax sold for $888 million
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 12/22/2006 08:01:27 AM · #1
Camera maker Pentax sold for $888 million
Camera maker Pentax sold for $888 million

Toronto Star - TheStar.com - Business

Japanese optics maker Hoya said it has agreed to buy camera maker Pentax in a stock swap estimated at 91 billion yen, or $888 million (Canadian), giving the glass maker access to digital-imaging technology.

The companies will combine operations on Oct. 1, 2007, and the new company will be called Hoya Pentax HD Corp.

The acquisition comes amid increasing competition in the digital imaging market, with both old-guard camera makers like Pentax and Nikon struggling against electronics giants like Sony to gain the lead in digital cameras. Falling prices have hurt profits, raising the pressure on firms to seek partners.


12/22/2006 08:31:18 AM · #2
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