Camera Platforms to Buy Hollywood Service Firm
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Camera Platforms International Inc. in Valencia said it agreed in principle to purchase Panther Corp. of America, a unit of Germany’s Panther GmbH, for $1.55 million cash.
The transaction is expected to close by July 1.
Panther Corp. of America sells and rents dollies and cranes, jibs, track and motion-control equipment for film and television production.
The company had 1992 revenue of about $1.5 million.
As part of the acquisition, Camera Platforms will also receive exclusive distribution rights for all Panther products in North America and South America.
Camera Platforms, which makes motion picture, television and photography equipment, posted a $1.1-million net loss for the year ended Dec. 31 on revenue of $3.9 million.
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