Lako Vision, one of the largest national distributors of video editing and multimedia products, has announced its plans to list on the ASX in June under parent company Pineapplehead.
Lako plans to raise $12 million in the public listing which it will use to develop its software, statistics, and virtual reality (VR) products. The company hopes to boost its annual revenue, currently $8-10 million, to $14-16 million over the next two years.
Desktop video-editing and multimedia is just starting to come into its own in Australia, according to Lako marketing manager Eugene Wong. Thanks to the consistent push by Apple, products that were traditionally being sold to TV networks are now being sold in a box at retail stores like Harvey Norman and Grace Bros. This gives resellers access to a whole new market: the common market.
As primary distributors for Pinnacle Systems, Lako has been paramount in bringing multimedia to the corporate, education and everyday user. "Now, mass merchants can carry products that are more affordable to the average person," says Wong.
What's more, the demand for these products is high, and the core technology is already being adapted to suit more diverse needs. Having just returned from a technology conference in Las Vegas, Wong says that executive producers of networks such as CBS, Sky and Fox have expressed strong interest in acquiring their virtual reality and statistic products to enhance sporting events and electoral campaigns.