Ricoh® buys Pentax camera brand from Hoya®
Hoya sells off Pentax camera brand to Ricoh in exchange of 10 billion Yen
Ricoh, one of the leading Japanese office equipment and camera makers, in a zeal to grow beyond office equipment like printers, fax machines etc. has purchased Hoya Corporation's Pentax digital camera brand. This acquisition will certainly expand the business of Ricoh in the market. Hoya, on the other side, is looking forward to channelize its business in medical products and materials for electronic devices using optics technologies. Pentax was won over by Hoya in 2007 and now is handed over to Ricoh against the significant estimate of 10 billion Yen, which accounts for 124 million US Dollars. The acquisition will come into effect on and from October, 2011.
Ricoh sincerely believes that, “the borderline between office and home will fade and this will be reflected in a major change in products and services." Keeping this vision in perspective, Ricoh considers this new move as a progressive business line. The world eagerly looks forward to the day when the first fruit of the Ricoh and Pentax combination will be released in the market.