The big get bigger: Vitec’s Photographic Division acquires JOBY and Lowepro
posted Tuesday, September 26, 2017 at 9:30 AM EDT
The Vitec Group has acquired JOBY and Lowepro. Vitec is a leading provider of broadcasting and photographic products and JOBY and Lowepro will be joining the company's Photographic Division, which includes well-known brands including Manfrotto, Gitzo and Lastolite.
With the acquisition of JOBY, Vitec is hoping to make a push into smartphone photography ("iPhonography" as they call it in the press release) and vlogging markets while Lowepro will help them solidify their place in the camera carrying solution industry. You likely know JOBY from their GorillaPod product, which was first released in 2006. Lowepro is one of the largest bag companies out there and many photographers use and trust the brand. The two brands, JOBY and Lowepro, will be integrated into the Photographic Division under the leadership of the division's Chief Executive, Marco Pezzana.
Pezzana said of the acquisitions, "We are proud to announce that two remarkable brands within the photographic accessories market, JOBY and Lowepro, will join the Vitec Photographic Division. We pride ourselves on supplying the leading photographic brands to the global market. This natural addition to our business strengthens the already outstanding offering we provide to our partners worldwide. We believe that our extensive knowledge of the photographic market will enable us to add a wealth of value to these already leading brands. JOBY and Lowepro's product development expertise, coupled with our established global distribution network, engineering and manufacturing capabilities, creates exciting opportunities for both Vitec Group and our global partners."
The terms of the acquisitions have not been released and it is not immediately evident how the acquisitions will affect the JOBY and Lowepro brands and their product offerings in the foreseeable future. Nonetheless, it is big news in the photographic industry and Vitec's photo division has just added two big players.