Pentax u2013 one of the most famous brands in photography u2013 will officially become a consolidated subsidiary of Hoya on 14 August, it has been announced today.

Pentax ? one of the most famous brands in photography ? will officially become a consolidated subsidiary of Hoya on 14 August, it has been announced today.

The deal is worth ?94,482 million yen?, according to a statement on the website of Pentax?s Tokyo-based office. This is the equivalent of around £394m.

Hoya intends to pay 770 yen for each Pentax share, following the completion of the tender offer period yesterday (6 August).

In terms of voting rights Hoya?s stake in Pentax will amount to ?90.58%?.

Pentax was founded on 17 December 1938 with its head office in Tokyo.

It will continue to run its business as an ?independent legal entity? and trade under the Pentax brand name, according to a statement on the company?s website.

Though perhaps best known in consumer photographic circles for its filters, Hoya’s range of products includes lenses for cameras (including aspheric lenses), optics for LCD projectors, camcorders and spectacles.

Formed in 1941 Hoya also makes lens coatings, crystal wine glasses and crystal jewellery.

To download full details of the final stages of the takeover click below:

Pentax statement

For our previous articles on this see below:

Hoya outlines plans for Pentax

update 25 May

Pentax dismisses speculation

Pentax 645D news

DSLR policy unclear