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Pinnacle Systems Inc, a company dealing in digital video content creation
tools, has announced its plans to increase presence to over 30 cities and its
current premium dealer strength of 35 to 60 by 2003. The objective of this move
is to increase its marketshare and penetrate deep in the Indian markets.
Pinnacle Systems has opened a service center in Delhi for local servicing of
the products. Presently, Aditya Infotech is the sole distributor for Pinnacle in
India for the home segment. Aditya Infotech has a wide reach in the country
through 15 branches and about 2,000 resellers. Pinnacle also has the support of
35 premium dealers in the major cities for their business/professional products.
Pinnacle Systems acquired VOB Computersysteme GmbH out of Dortmund, Germany
for a total purchase price of approximately $7.0 million consisting of $4.0
million in cash and the issuance of $3.0 million worth of Pinnacle Systems
common stock. VOB specializes in CDR and DVD products and technology and will be
integrated into Pinnacle's business and consumer division. With the
acquisition Pinnacle Systems plans to combine the well-recognized technology and
talent of VOB with its consumer video authoring solutions to provide
advanced, fully-integrated software suites for CDR and DVD drives for recording
of data, music and video.
CYBER NEWS SERVICE
Chennai
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