Longtime movie and video technology giant Technicolor is looking to move forward under a new more streamlined operation and a new name — Vantiva.
Technicolor SA Tuesday revealed the launch of its new “VANTIVA” brand as the next step in its move forward with the spin off of its Technicolor Creative Studios (TCS) announced in February.
The new Vantiva spin-off operation will combine Technicolor’s Connected Home and DVD Services operations, the company said.
Technicolor said that, subject to shareholder approval, it also plans to make Vantiva the new corporate name of Technicolor SA by the end of the third quarter. The company was scheduled to unveil the Group’s new strategic direction and roadmap to drive growth, as well as its financial objectives, in London today.
Technicolor SA was at one-time known as France-based Thomson SA, which used to produce televisions and consumer electronics products under the RCA brand, among others. It still owns and licenses those trademarks being used by third party manufacturers/distributors.
In 2018, Technicolor sold substantially all of its consumer electronics technology patent portfolio to InterDigital, while continuing to move forward with research and development of new technologies and patents.
Technicolor also has been active in developing next-generation technologies for high dynamic range (HDR) systems using its Advanced HDR by Technicolor suite of technologies and applications.
The company has remained stalwart in its support of some still popular though aging technologies. For decades, Technicolor has been known for its work in the manufacturing and production of physical disc audio/video media, including DVD, Blu-ray Disc, UHD Blu-ray, CD, Xbox 360 and Xbox One discs for major studios, game publishers, independent rights holders, music labels, software developers, and book publishers. That will now continue under the spin-off.
“As a result of the TCS spin-off, Vantiva, our new standalone company, will be able to grow on its own terms and follow its own strategy,” Luis Martinez-Amago, who is expected to expected to be named Vantiva CEO, said in a statement released Tuesday.
Technicolor’s statement said the executive team of Vantiva will build on “a proven track record of success serving the connected home and home entertainment services markets.”
For Connected Home operations, Vantiva will continue Technicolor’s established position in the high-growth Android TV and Ultra-Broadband technology markets. The company said it is also expecting “to allocate resources to move into markets that are adjacent to the connected home business.”
“Our customers will benefit from our now exclusive focus on designing and producing the next generation of high-quality Customer Premises Equipment at record speeds while navigating today’s volatile supply chain environment,” Martinez-Amago stated.
The DVD services operations will operate under the name Vantiva Supply Chain Services. The division will continue to advance Technicolor’s “expertise in high-precision, submicron-engineering in DVD manufacturing, its involvement in custom packaging and its role in national and international distribution.”
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“We have evolved these vertical strengths of precision manufacturing, supply chain and fulfillment and freight and distribution; and have developed an exceptionally strong reputation in the market around tailored end-to-end customer solutions for these,” explained Martinez-Amago
Richard Moat, Technicolor SA CEO and future Chairman of the re-aligned and renamed Vantiva SA, said: “After two years of successful transformation significantly improving Technicolor’s operational and financial performance, we are now ready to begin a new chapter of value creation. Subject to shareholder approval, and after the spin-off of Technicolor Creative Studios, Technicolor will open a new chapter and become Vantiva, composed of Connected Home and Vantiva Supply Chain Services (the former DVD Services division), two market-leading businesses, operated by world-class management teams. Together, they are ideally positioned to leverage their unique strengths and assets to reinforce their leadership position in existing and new growing markets. I am confident that with Luis and the talented teams of Connected Home and Vantiva Supply Chain Services, Vantiva will continue delivering the best products and services to clients and drive long-term growth.”
“As Vantiva future CEO, I am excited to take on this new role and to build on the already strong foundations that Connected Home and Vantiva Supply Chain Services have developed over the last two years of transformation,” added Martinez-Amago. After the spin-off of Technicolor Creative Studios, our new standalone company will be able to grow on its own terms and follow its own strategy.”
The new streamlined structure of Vantiva will enable the company to further reinforce its existing relationships with all its customers.
“It creates a unique opportunity to establish an identity that is completely aligned with the needs of its core markets, while executing its growth strategy in new domains,” the statement said.
“As one company, we will benefit from Connected Home’s comprehensive product offering and leadership position in customer-premises equipment in video and broadband as well as from Vantiva Supply Chain Services’ undisputed leadership in disc, and diversification strategy in high-growth adjacent businesses. By combining our expertise, action-oriented cultures, well-established customer relationships, robust balance-sheet and world-class management teams, I am confident that we are positioned to generate enhanced value to all of our stakeholders. I look forward to working alongside management and our entire teams as we enter a new chapter of success and growth,” stated Martinez-Amago.
Vantiva’s streamlined structure is intended to help the company reinforce its existing relationships with all its customers, the company said. It creates an opportunity to establish an identity that is completely aligned with the needs of its core markets while executing its growth strategy in new domains.
Shareholders will be given the chance to vote on the new corporate name change and plan, from Technicolor SA to Vantiva SA, at a meeting to approve the spin-off to take place in the third quarter of 2022, the company said.
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By Greg Tarr
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