LONDON: Videndum plc, a global provider of premium hardware and software solutions for content creators, said Wednesday it has agreed to sell its consumer-focused JOBY brand to VIJIM, a manufacturer of camera and smartphone accessories.
The transaction, for an undisclosed sum, aligns with Videndum’s strategy to concentrate on its core professional markets. Proceeds from the sale will be used to reduce the Group’s debt, the company said in a statement.
Videndum will retain JOBY inventory, which it plans to release gradually over time.
“This divestment supports our strategic focus on serving professional content creators and enterprise clients,” said Stephen Harris, Executive Chairman of Videndum.
JOBY, known for its flexible tripods and mobile accessories, has been a staple among independent content creators and consumers. VIJIM’s acquisition is expected to expand its footprint in the consumer accessory segment.
Videndum, listed on the London Stock Exchange under ticker VID, employs around 1,300 people across nine countries. Its portfolio includes camera supports, video transmission systems, robotic cameras, LED lighting, and audio capture solutions.