Leica buys Sinar for undisclosed amount
posted Tuesday, November 26, 2013 at 1:18 PM EST
The world of high-end cameras just got a little smaller, with Leica purchasing large format camera makers Sinar. Details are still a little sketchy, but it appears that neither company is willing to discuss the terms of the deal, or what it will mean for either brand.
While we haven't seen a press release in English directly from either company, German versions have been released, and this English version reads like the real deal. The announcement doesn't reveal much about the acquisition, saying, "Leica Camera AG, Solms, finalized the takeover of Sinar Photography AG, Zurich, the Swiss manufacturer of view cameras. Both companies have agreed that the details of the transaction will not be disclosed."
What the press release does say is:
With this takeover, Leica Camera AG completes the company’s portfolio in the high-end digital camera segment and further expands its position in the market for professional photographic equipment. With the Leica S-System, Leica offers a high-mobility, integrated, medium-format digital camera system that is completely in line with the company’s long-standing brand philosophy. This system is now ideally complemented by the modular Sinar system and its particular suitability for studio, industrial and architectural photography. Synergies will also develop in the fields of digital technology, sales and distribution and in customer care.
Prior to this purchase, Leica gear peaked at the medium format Leica S-System. Now, with Sinar technology, Leica can expand into large format cameras as well.
As part of the deal, marketing, product management, support, development and production will remain in the hands of Sinar in Switzerland, with sales and distribution of the product portfolio handled by Leica and Sinar's worldwide dealer network.
This isn't the first time Leica made moves on Sinar. At Photokina 2006, Leica announced that it had purchased a controlling share (51%) of the Swiss manufacturer, only to have the deal fall through scant months later. Now, seven years later, it seems Leica has finally succeeded.