Technology group Wärtsilä has announced the divestment of 100% of the shares in its entertainment business, Wärtsilä Funa GmbH, to Videlio SA, a French public limited company.
Wärtsilä Entertainment is engaged in the field of design, fabrication, engineering and integration of entertainment systems, illumination, light control, cabin control, broadcast and digital audio distribution and announcement systems for cruise vessels and entertainment parks. These systems are used in the Marine and land-based markets.
The company became part of Wärtsilä as a result of the acquisition of L-3 Communications MSI in 2015 and has 172 employees in five countries, with the majority being based in Emden, Germany. The annual revenues were approximately EUR 50 million in 2020.
Tamara de Gruyter, President, Wärtsilä Marine Systems and Head of Portfolio Business said: ”We are very pleased to have come to an agreement to sell Wärtsilä’s Entertainment business to Videlio which is a well known player in the market and are confident that the combined offering and capabilities will serve the customers even better.”
Robert Léon, Chairman of the Videlio Board, stated: “The Wärtsilä Entertainment portfolio is synergic and complementary to our own offering. We now have the possibility to scale the business serving new and existing customers with a broader portfolio of competences and know how. The acquisition is fully in line with our strategic plan and will accelerate our international development, particularly in Germany”