TVonics bought by Contact HoldingsFriday, February 29th, 2008
Leading UK designer and manufacturer of easy to use, energy efficient Digital TV Receivers and Recorders acquired
TVonics, the UK based digital TV set top box company has today been acquired by the Contact Holdings Group which specialises in contract manufacturing, product packaging and supply chain management.
TVonics has in just over 3 years, rapidly established a position in the UK market as a premier brand of quality Digital TV receivers and recorders sold through leading UK retailers. TVonics products are renowned for their ease of use and energy efficiency. The acquisition by Contact Holdings, transforms a small entrepreneurial start up company into a solidly financed consumer electronics company capable of responding to the exciting opportunities presented by Digital TV switchover and transition to HDTV in the UK and throughout Europe.
Contact Holdings intends to continue manufacturing and supporting the TVonics range of Freeview receivers and recorders servicing the existing retail customer base. In addition, the TVonics range will be extended to address the emerging strong market demand for High Definition TV reception for Terrestrial, Satellite and Broadband networks across Europe and the UK.
Contact Holdings commented “The acquisition of TVonics represents an exciting development in the growth of Contact Holdings. We are delighted to be able to apply our supply chain expertise and financial strength to extend what has already been a great UK success story. We are committed to make TVonics a leading European supplier of quality consumer electronic products.”
Paul Fellows of TVonics said that “With the financial strength of the Contact Group behind us, we can now invest in enhancing our existing products and commencing the development of a new generation of High Definition MPEG-4 based Digital TV products. We are recognised in the UK market for offering easy to use, energy efficient and reliable digital TV receivers and recorders. Now we can look forward to offering these core brand values to TV viewers across Europe.”
TVonics Solutions Limited, a wholly owned subsidiary of Contact Holdings has been established as the legal and trading entity and now owns all the Intellectual Property developed by TVonics Limited as well as all branding and trade marks.