Technicolor SA announced it plans to change its name to Vantiva SA by the end of the third quarter 2022.
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Unedited press release follows:
Technicolor to Become VANTIVA in the Third Quarter of 2022
PARIS, June 14, 2022 – Technicolor SA (Euronext Paris: TCH; OTCQX: TCLRY) announces today the launch of its new brand: VANTIVA. VANTIVA comes in the wake of the proposed spinoff of Technicolor Creative Studios (TCS) announced on February 24, 2022. The new brand will be comprised of the Connected Home and DVD Services operations. By the end of the third quarter, subject to shareholder approval, VANTIVA will also become the new corporate name of Technicolor SA.
“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,” said Luis Martinez-Amago, who is expected to be appointed chief executive officer of VANTIVA.
This new situation will allow the executive team of VANTIVA to build on a proven track record of success serving the connected home and home entertainment services markets.
For Connected Home operations, VANTIVA will continue to leverage the company’s leadership position in the high-growth Android TV and Ultra-Broadband technology markets. It will also 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,” said Martinez-Amago.
Meanwhile, the company’s DVD services operations will be known as VANTIVA Supply Chain Services. The division will build on its decades-long mastery of high-precision, submicron-engineering in DVD manufacturing, its recognized leadership in custom packaging and its leadership position in national and international distribution.
“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,” said Martinez-Amago.
VANTIVA’s streamlined structure 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 change of the corporate name of Technicolor SA to VANTIVA SA is subject to the approval of Technicolor SA shareholders, during the shareholders’ meeting to approve the spin-off that will be convened in the third quarter of 2022.
About Technicolor:
Technicolor is a worldwide leader in the creation and seamless delivery of extraordinary entertainment experiences. By uniting industry-leading artistry with world-class innovation, the company and its family of creative brands help storytellers bring their most ambitious visions to life. By innovating next-generation broadband and video technologies, we partner with the world’s leading service providers to deliver seamless connectivity and premium entertainment experiences, connecting audiences and the content they love – unlimited by time, place or medium.
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