Barco announces it has acquired the products, intellectual property (IP) rights and know-how of Element Labs, an LED video systems expert based in Santa Clara, California.
With a focus on mid-end market requirements in rental, staging and fixed installations, the Element Labs products should complement Barco's existing high-end product range, the company says.
Through this transaction, Barco hopes to strengthen its position as a provider of LED, projection, image processing and lighting products. This product portfolio is designed to allow Barco to serve customers with different budget levels in the media and entertainment market.
With immediate effect, the name “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, California, will function as Barco's competence center for creative LED solutions, whereas Barco Kuurne (Belgium) will remain the competence center for tiled LED solutions. Barco should announce its new mid-range LED products in the coming months.