Private equity firm Avedon Capital Partners has acquired and merged two visual communication companies VisionsConnected and Viju.
Both VisionsConnected and Viju already provide videoconferencing and audiovisual services to customers in over 120 countries. The combined company, which will be headquartered in Amsterdam, will be launched as a new brand in early 2018.
The aim is to turn the combined company into a global visual communications company which specialises in designing, installing and servicing physical and virtual meeting room environments for customers all over the world. This growth will be achieved by a combination of organic growth and buy-and-build opportunities.
Odd Sverre Østlie, previously CEO of Viju, will be appointed CEO of the new combined business while Raymond Alves, the founder and CEO of VisionsConnected, will become Chief Solution Officer.
Odd Sverre Østlie said: “We believe this is a perfect opportunity to join forces with VisionsConnected and create a leading global visual collaboration specialist. For the end user to be effective, they need a trusted partner to bring the world of different technologies together. The combination can now provide our Clients with a seamless ecosystem of personal and shared Video and AV technologies as-a-Service, covering every need from one-to-one and group collaboration, to internal all-hands and external events.”
Emily Jeffries-Boezeman, Investment Manager at Avedon Capital Partners, added: “We have been following this market and recognised the opportunity to create a leading global specialist in this dynamic, but still fragmented market. The market grows considerably driven by the increased need for high end video and collaboration technologies and services, delivered globally in a service model. With their outstanding people, talented leaders and shared culture striving for the best customer experience, Viju and VisionsConnected together form the ideal foundation for our entrance into this industry.”