Barco expands mid-range LED solutions

"This expands Barco's portfolio for the mid-range markets," said Eric Van Zele, Barco president and CEO. "Element Labs' products in these markets have proven their worth on many occasions and perfectly complement Barco's more high-end oriented market portfolio." "Element Labs' products have added a spectacular dimension to numerous concerts, events, corporate headquarters and flagship stores around the world," said Paul Matthijs, VP of Barco's Video & Lighting Solutions business. "This transaction will help to accelerate the turnaround which is underway in our Video & Lighting activities, by enabling Barco to address a wider segment of the market, and further leveraging Barco's existing sales, marketing, and service capabilities." Taking effect immediately, the company "Element Labs" ceases to exist. Structured as an asset sales transaction, Barco obtains all product designs, rights and intellectual property of Element Labs, without assuming the liabilities of the former EL-company. As of today, the core team of Element Labs in Santa Clara will function as Barco's competence center for creative LED solutions, while Barco Kuurne (Belgium) will remain the competence center for tiled LED solutions. Barco will announce its new mid-range LED products in the coming months.