IROQUOIS, ONTARIO, CANADA and ADELAIDE, AUSTRALIA: Ross Video and Codan Limited jointly announced today that Ross entered into a letter of intent to buy 100 percent of the shares of Codan Broadcast, a subsidiary of Codan Ltd. Codan Broadcast supplies routers, interfaces and audio monitors to the Australian and international broadcast markets.
The sale, subject to the finalization of due diligence, is scheduled for completion Aug. 31, 2010. Terms of the deal were not disclosed.
Ross intends to continue operations from Codan Broadcast’s current premises in Melbourne, Australia with the name of the business and product branding changing to Ross Video. Codan Broadcast products will become part of the Ross product portfolio, and significantly expand Ross’s presence in Australia.
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