Pentax snapped up by Ricoh for a cool £77 million

Ricoh is looking to increase its position in the interchangeable lens camera market by buying Pentax for £77 million from its current owners Hoya. Pentax’s interchangeable lens technology and market experience should be a welcome addition to Ricoh’s expansion plans which should go ahead after the dotted line is officially signed in October. What does this mean for us consumers? Well, it’s early days yet but hopefully a new tree of innovation will grow from the acquisition resulting in more competition, better choices and lower prices for us all around. Snap-happy.