PANASONIC has reached a deal with a private equity firm to spin off its camera manufacturing and R&D operations — including its factory in Suzhou, China — to a new company.
Panasonic will transfer its video surveillance equipment manufacturing and R&D operations — including its factory in Suzhou, China — to a new company it will establish. Polaris Capital Group will then purchase an 80 per cent stake in the new company, which will be named Panasonic i-PRO Sensing Solutions.
The new company will be formed from the Security Systems Business Division of Connected Solutions Co. of Panasonic and the industrial and medical vision compact camera R&D department of its Innovation Center.
The Polaris strategy will be “to strengthen solutions capabilities with an eye to aggressive alliances and M&A strategies, leverage these strengths to expand its earnings base on a global scale, centred on the North American market, provide new products and services for the next generation, and expand sales of camera modules for medical devices”.
Panasonic will continue to be involved in the management of Panasonic i-PRO Sensing Solutions. Security cameras and other video surveillance products will be sold under the Panasonic brand.
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