Vidikron Of America Sold To Investors, Emerges Independent And Fully Funded Begins Kronos HDTV Projector Shipments And Reaffirms Exhibit Plans For CEDIA Expo í99
Vidikron of America, Inc., a leader in high-performance video projectors and support components, has been sold by Vidikron Technologies Group, Inc. to a group of internationally based financial investors with substantial financial backing exceeding $250 million. The action leaves Vidikron of America as an independent, fully funded company for the first time in its eleven-year history. ""Vidikron of America has entered a new and very positive chapter in its history,"" said James Wellnitz, Executive Vice President, Vidikron of America. ""Weíve never before been in this strong a position financially, and look forward to building on our achievements and continuing to provide our dealers and customers with the best projection products and technology available."" Vidikron Technologies Group continues to remain in business and consists of Projectavision and Vidikron, S.r.L., an Italian subsidiary. Phillip Siegel continues in his position as Chairman of Vidikron Technologies Group. As an indication of its new momentum, Vidikron of America has begun to ship the new Kronos One HDTV-compatible projector to its dealers around the country. The Kronos One is a high-scan CRT projector created from the ground-up for performance and value in displaying HDTV, line-doubled, and other enhanced-definition images. Vidikron of America will also exhibit three new products, including the Kronos One, at the upcoming CEDIA Expo ë99 in Indianapolis and participate fully in the convention. The Custom Electronic Design and Installation Association is the nationís leading association of companies that specialize in designing and installing Home Theaters, multiroom A/V systems, home automation and communication systems, and whole-house management systems. Vidikron of America will also continue to support its existing line of cutting-edge products, its selective distribution, and current policies and practices.