So, unless you live in a hole, you’ve probably heard by now that Barco (the new Borg as they’ve been called recently) has purchased another great name in the concert world, Element Labs. This sale has a particular place for me since we “were” the Element Labs distributor here in N and S America.
The interest component of this deal is in the wording Barco used in the press release. Basically, they bought the assets being the products and IP (intellectual properties) but not the company itself. This is common in “fire sales” where a buyer may not have time to do a proper due diligence or has no interest in the other components.
I for one have always been a fan of Element Labs. Not because they were big or profitable or any other business reason. I just thought their products were “cool”. They did new things and pushed the envelope instead of following trends. In fact, in many cases they created trends with products like Versatube and Stealth. Each of those was the first. The Stealth kicked off a HUGE market for “transparentish” screens and VersaTube is still a very popular design element in all sorts of shows.
It remains to be seen what Barco end up doing to / with the Element products. I for one will miss the Element brand though – even though Element Labs have really not been the same since being taken over years ago by Venture Capitalists.
I’ve said it 1000 times – this consolidation is far from over. I am certain this is not even close to the last move we’ll see in our industry this year. I don’t love it but I understand it.