Digital Vision completes management buyout5 December 2014
Digital Vision has announced that its management team, consisting of Kelvin Bolah, Greg Holland and Claes Westerlund, has acquired the company from Swedish company Image Systems for 6.1 Million SEK. The company states that the buyout will “preserve the heritage of the 26-year-old company and provide significant funding for future investment in R&D”.
Kevin Bolah will assume the role of CEO, with Greg Holland becoming worldwide vice president of sales, and Claes Westerlund becoming worldwide vice president of operations. The company has clarified that the entire Digital Vision team “will remain with the new company, as will all of the company’s offices in London, Los Angeles, Melbourne, New York and Sweden”.
“Digital Vision’s staff, customers and partners were of the utmost importance in this acquisition and our main reason for the management buyout,” explained Bolah. “Having worked with them for many years and seeing their passion, expertise and the amazing projects they produce, we knew we had to keep the Digital Vision brand alive. With the investment that the company now has we will be able to accelerate the R&D and engineering to deliver our award-winning products in a timely fashion to a global customer base.”