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| Tuesday, 25 August 2015, 14:31 HKT/SGT | |
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| Seizes Better Growth Opportunities To Lead AV Market Trend |
HONG KONG, Aug 25, 2015 - (ACN Newswire) - AMX Asia Limited([AMX Asia]) - a leading audio-visual and central control system solutions provider that boasts an impressive track record of offering services to local universities, government, large shopping malls and non-government organizations (NGOs)- has announced a strategic merger with CAS Group International Limited([CAS]), a smart systems expert which has clustered a variety of international brands.
 | | AMX Asia Merges With CAS To Form SCHOT International |
The new Company, to be named South China House of Technology International Limited([SCHOT International]or[the new company]), is aimed at enriching its product portfolio, expanding its sales network, strengthening its professional teams and proactively grasping the opportunities brought by the rapid growth of the professional audio-visual market in the region and overseas.
Against the backdrop of increasingly fierce competition in global digitization, the growth of the professional audio-visual industry is proceeding at high speed. According to industry estimates, the Asia-Pacific market is expected to become the largest audio-visual market in the world in 2016, with a market value of about US$41.7 billion accounting for 36.5% of the global market; China is expected to lead the development of the professional audio-visual industry, with market revenue of US$16.8 billion, accounting for 40% of the Asia-Pacific market.
In China, the increasing demand of infrastructure construction shored up by the fast pace of urbanization, together with the construction of smart city and "Internet Plus" strategy unveiled by the government, have given fresh impetus to the fast growth of professional audio-visual industry. According to estimates from InfoComm International, the professional audio-visual industry in China is expected to maintain an annual growth rate of 20% in the coming three years.
Through the merger, SCHOT International has successfully integrated the leading global smart control brand AMX with the smart system solution provider CAS to maximize strength from strength. The new setup will continue to lead the development of the professional audio-visual market, as well as leveraging on more competitive products and services.
Mr. Steve Lau, President of SCHOT International, said: "The merger is tying in with market development trends and the increasingly diversified needs of clients. We hope the merger will combine the rich industry experiences of the two companies and build up a one-stop professional platform for audio-visual products and technology solution providers through our seamless alliance of brands, products and management team. We will continue to provide high-quality, customized, effective and efficient professional audio-visual total solutions to create value for clients."
Before the merger, the two companies had their own strengths individually as well as a solid combined track record of cooperation on various landmark projects in Hong Kong, Shanghai, Beijing and Jinan. These projects included the indoor and outdoor LED visual and central system of Shanghai IFC phase I(left picture), Phase II and Phase III, digital audio-visual & central control system of six Apple Stores in Beijing and Shanghai(right picture), as well as the digital audio-visual and central control system of The Hong Kong Polytechnic University's Logo Square(middle picture) and FGHJ Square.
After the merger, SCHOT International will create the synergy of "1+1>2" (or one plus one is more than two) in various aspects, such as expansion/extension of product lines and the up-grading of customer services.
In terms of product line expansion/extension, the merger of talents from the two companies will greatly improve the strength of the new company's sales team, helping to strengthen interaction with customers and accurately understand clients' needs. Meanwhile, the brands to be distributed will become more diversified, enabling the sales team to extend sales effectively and to achieve higher sales target.
In terms of client services experience, with the changing market needs for agency services, the new company will establish a business development department after the restructuring under the merger. Its main duty will be to improve communications among the new company, clients, consultants and suppliers, to draft professional solutions, and to provide one-stop services together with the technology department from planning to project execution for sales team and customers. The objective is to increase customer satisfaction.
According to preliminary estimates, annual net profit of SCHOT International is between HK$ 15 million and HK $20 million. Market capitalization is estimated to be HK$ 200 million, based on a P/E ratio of 10. The management team of the new company will be formed by senior management executives of the two companies before the merger, including six industry experts with more than ten years' experience in relevant fields.
Based on unanimous expectations of rapid growth of professional audio-visual industry in the future and a common development goal, the management team will use this merger to integrate high-quality resources, proactively formulate business strategies and strengthen its leading position amid increasingly fierce competition.
Looking forward, Mr. Peter Low, CEO of SCHOT International, said: "The professional audio-visual market is embracing the golden age of development in Asia, especially in China. We hope to grasp opportunities and solidify our position as the top audio-visual and central control system total solution provider in Asia through this merger and be ready for potential further integration in the future."
About AMX Asia Limited
AMX Asia Limited is AMX's North Asian headquarters situated in Hong Kong, covering Mainland China, Taiwan and South Korea. Established in 1982, AMX is one of the largest manufacturers of control systems with the longest history in the world. To date its products have covered 86 countries and regions. AMX smart control devices and software are devoted to simplifying the relationship between people and technology, and to make use of the rapid development of technology, R&D of various smart control products and high-end control solution from the perspective of users with the aim of providing effective solutions for people's daily life and work. The products of AMX are widely employed in various major projects, including Hangzhou Wulin No. 1 Apartment, Shenzhen Stock Exchange, Milan Expo the China Pavilion, Nanjing Youth Olympic Conference Center, Tianjin China Mobile Network Operation Center, Zhuhai Hengqin Bay Hotel. On 13 June 2014, Harman International Industries Inc acquired AMX LLC at US$365 million.
About CAS Group International Limited
The CAS Group imports a number of innovative home automation system, audio speakers and digital signage products from the United States. Brands such as Atlona, BrightSign, Omnimount, Xantech, KX-AV and Honeywell-Inncom are all unique to the market. CAS also has two self-developed brands-Artistry and Olevia. CAS carefully selects products to provide clients with exclusive as well as superior solutions, and also offers mature experience in AV solution, high-quality technical support, training and quality-assured products. CAS's clients include Shanghai Mandarin Oriental, Shanghai Disneyland, Macau Venetian, Macau Galaxy, Macau Grand Lisboa, Shenzhen Sheraton, The University of Hong Kong, Hong Kong High-speed Railway, BAIC Motor Corporation.
For further information, please contact:
Ms. Zoey Wai
+852 9325 3379
zoey.wai@amxasia.com
Topic: Press release summary
Sectors: Electronics, IT Individual
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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