Press release of December 2, 2020
Agreement on the creation of a joint venture to manage the worldwide deployment of VOGOSCOPE, the first turn-key solution for multi-cam capturing and Live & Replay broadcasting, targeted to amateur sports, training centres and local authorities
VOGO (ISIN code: FR0011532225, ALVGO) and ABEO (ISIN code: FR0013185857, ABEO) today announce the signing of an agreement on the creation of a joint venture to manage the worldwide roll-out of VOGOSCOPE, the first turn-key solution for multi- cam capturing and Live & Replay broadcasting. This new deal comes on the heels of the 2019 partnership agreement signed between both groups, aimed at building a breakthrough offer based on VOGO’s technology and marketed to ABEO brand customers associated with Sports division (Gymnova, Spieth, Janssen-Fritsen, Schelde, Bosan, etc.) and “Sportainment & Climbing” division (Entre-Prises, Clip’n Climb, Fun Spot, etc.).
VOGOSCOPE is the result of the combined expertise of VOGO and ABEO, with VOGO contributing its command of video technologies and ABEO its cutting-edge expertise in the global sports equipment and infrastructures market.
The kit is predominantly targeted to amateur sports and training centres interested in providing their athletic staff with versatile and easy-to-use video tools (to help improve athlete performances), but also to enable the general public (parents, friends and family) to watch competitions not scheduled for recording or TV broadcast.
The VOGOSCOPE offer incorporates a “Virtual Seat” solution allowing event organisers to sell tickets to fans unable to attend events on site (limited seating or closed to the public, parents wanting to watch their children’s competitions remotely, etc.). “Virtual Seat” users can watch the event in the comfort of their home while enjoying a broad range of features: multiple angles of view, instant replay, slow motion, zoom, plus the option to record their own clips and share them on social media.
VOGOSCOPE thus boasts the potential to boost awareness for sports or events currently subject to little media coverage and offers a revenue generation opportunity for organisers. It also gives an edge in the current health crisis, which requires new channels to be invented to interact with fans of sport, cultural or leisure events.
The product has already demonstrated its appeal through multiple commercial successes: equipment of the basketball courts of the Tony Parker Adéquat Academy Sports Hall in Lyon, the Olympic pool of the elite Cercle des Nageurs d’Antibes in collaboration with Alain Bernard, the Montpellier Beach Volleyball club and, more recently, equipment of the French Surfing Federation and French Dance Federation with mobile kits to broadcast athletes’ performances.
The VOGOSCOPE kit, which can be set up indoors or outdoors, permanently or on-the-go, proves its modularity and ability to meet the specific needs of each discipline. Preliminary sales initiatives met with great interest from local authorities and private-sector managers of sports venues, looking for new ways to record and broadcast locally organised sporting and cultural events.
Significant mutual benefits for both groups
For VOGO, rolling out the VOGOSCOPE solution alongside ABEO has broadened its existing market (televised sporting events, professional sports clubs). This joint venture represents a new opportunity to highlight its Live & Replay technology on highly complementary regional markets calling for a strong local commercial power.
For ABEO, this alliance generates real added value and expands its products and services offer to its diversified client base (sports halls, leisure centres, gymnasiums, climbing halls, schools, etc.) around the world. By supporting its clients in their digital transition and providing them with tools to cover events previously unavailable to the public, this joint offer gives ABEO the opportunity to strengthen its commercial penetration stand out in its historical markets.
International deployment to begin in Q1 2021, based on a recurring-income business model
In accordance with the term sheet signed by both groups, VOGO and ABEO have decided to establish a dedicated joint venture to take full advantage of the sales potential of this new offering, requiring a close combination of their resources and expertise. The JV, named VOGOSCOPE, will be set up as a simplified joint stock company (société par actions simplifiée), 51%-owned by ABEO and 49%-owned by VOGO. Christophe Carniel, Chairman and Chief Executive Officer of VOGO, will serve as Chairman of the JV and Olivier Estèves, Chairman and Chief Executive Officer of ABEO, as Chief Executive Officer. Under their leadership, a sales and technical team combining VOGO’s technical know-how and ABEO’s sales network will oversee the global deployment of the solution, scheduled to begin in Q1 2021. France, Benelux and Germany will be the first target countries in Europe, before considering an expansion to the UK market. The offer will also be rolled out in North America as of January 2021, with plans to subsequently expand to Asia (particularly China).
VOGOSCOPE will benefit from ABEO’s extensive client base and the strength of its network, with 12 subsidiaries and sales spanning over 100 countries.
The JV’s business model relies on sales of VOGOSCOPE kits, supplemented by recurring income from the use of the “Virtual Seat” solution for audiences outside sports venues.
Olivier Estèves, Chairman and Chief Executive Officer of ABEO, said:
“I am thrilled to embark on this new phase, paving the way for a promising technological and commercial alliance with the VOGO teams. In recent months, we have been able to measure the strong support of our customers for the VOGOSCOPE solution on the ground. Given the major transformation affecting the sports market, now is the time to move into high gear. A new chapter is beginning in the history of our two groups. By pooling our capacity for innovation and combining our sales networks, we have everything we need to ensure the rapid breakthrough of this unique solution on the international market.”Christophe Carniel, Chairman and Chief Executive Officer of VOGO, added:
“As a professional coaching tool and a new way for fans to tap into their love of sports, the VOGOSCOPE solution once again demonstrates our agility and our role as a driving force serving the entire sports industry. That said, this success can be attributed to a successful partnership with the teams at ABEO, who worked tirelessly at our side to design a solution perfectly tailored to the needs of our target markets. This offer is now ready to go, and together I firmly believe we are building an organisation capable of making it a win-win success for both our companies in no time flat. One of the most promising aspects of this alliance is that it will help us access new markets that were not included in the market plan presented at the time of our IPO, backed by the power of our partner’s global network.”
About ABEO
ABEO is a major player in the sports and leisure market. The Group posted turnover of €235.7 million for the year ended 31 March 2020, 74% of which was generated outside France and has 1,677 employees.
ABEO is a designer, manufacturer and distributor of sports and leisure equipment. It also provides assistance in implementing projects to professional customers in the following sectors: specialised sports halls and clubs, leisure centres, education, local authorities, construction professionals, etc.
ABEO has a unique global offering, and operates in a wide variety of market segments, including gymnastics apparatus and landing mats, team sports equipment, physical education, climbing walls, leisure equipment and changing room fittings. The Group has a portfolio of strong brands which partner sports federations and are featured at major sporting events, including the Olympic Games. ABEO (ISIN code: FR0013185857, ABEO) is listed on Euronext Paris – Compartment B.