23 May 2022 13:36
23 May 2022
Videndum plc
("Videndum" or "the Company")
(formerly The Vitec Group plc)
Change of Company name
Further to the Company's announcements of 1 March and 17 May 2022, the change of the Company's name from The Vitec Group plc to Videndum plc has become effective today. The Company's change of name and change of Tradable Instrument Display Mnemonic ("TIDM") from VTC to VID will therefore become effective on the Official List of the FCA and the Main Market of the London Stock Exchange from tomorrow, 24 May 2022. Videndum plc shares will continue to be traded on the Main Market of the London Stock Exchange.
This change of name helps to differentiate us from other companies around the world who also operated under the Vitec name, and it was also necessary to avoid financial penalties under a now-settled dispute with a third party with deemed prior rights to the Vitec name in various territories.
Building on the structural change and growth in our end markets, and our leading market positions, we are using this opportunity to refresh and reframe our brand. A Latin noun, Videndum means "That which must be seen" or "A must see" and better reflects our purpose and opportunity in the multiple market segments of the exciting and growing content creation market in which we operate. The rebranding roll-out process for the new name and associated visual identity begins today and will progress through 2022 and early 2023.
Also, from today, our Imaging Solutions Division changes its name to "Media Solutions". As the Division has grown its portfolio to include audio under the JOBY, Rycote and Audix brands, the new name better represents its customer base and the exciting opportunities ahead.
Stephen Bird, Chief Executive of Videndum plc, said:
"More than just a name change, Videndum better reflects our purpose and opportunity, and signals a new stage in the Group's evolution. The Company has fundamentally evolved over the last ten years and we are now a higher quality business, with more advanced technology capabilities, operating in multiple market segments at the very heart of the exciting and growing content creation market."
To see Videndum in action, please watch this video.
Jon Bolton
Group Company Secretary
020 8332 4600
A snapshot of Videndum plc
Videndum is a leading global provider of premium branded hardware products and software solutions to the growing content creation market.
Videndum's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators, gamers, professional musicians and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, bags, backgrounds and motion control, audio capture and noise reduction equipment.
We employ around 2,000 people across the world in 11 different countries and are organised in three Divisions: Videndum Media Solutions, Videndum Production Solutions and Videndum Creative Solutions.
Videndum plc is listed on the London Stock Exchange, ticker: VID.
More information can be found at: www.videndum.com
LEI number: 2138007H5DQ4X8YOCF14