Ricoh is expected to boost its position in the interchangeable lens market when it acquires Pentax, which is currently owned by lens-maker Hoya. The deal, which was confirmed this morning, is evaluated at ¥10b ($124.2m / £77m / €85m).

Hoya first acquired Pentax in October 2007 for more than ¥100b.

Reuters reports the deal is expected to be finalised in October, and the Nikkei business daily says that "the move by Ricoh could trigger a major industry realignment."

In a notice of sale posted by Hoya and Ricoh, the companies confirm that Ricoh, through this acquisition, plans to "enhance its digital camera businesses (especially the interchangeable lens camera market which is expected to grow), [and] create value-added businesses for taken photographs (creation and development of value-added services that encourage seeing, storing and refinishing photographs and utilize photographs as communication tools), [as well as] expand to other fields (study of entry into the image archiving business using medium-format digital cameras and enhancement of security-related products)."

Read: Pentax sold to Ricoh: Does it make sense? BJP's analysis.

The statement also reads that Ricoh aims to establish a consumer business. To achieve this goal, "Ricoh takes it as an indispensable initiative to obtain the small and lightweight interchangeable lens camera technology, lens technology and sales channels held by the Pentax Imaging Systems Division to pave the way for further advancement and innovations in the digital camera market."

Pentax currently offers two ranges of digital cameras - its K system of conventional digital SLRs, as well as its most-recent digital medium format camera, the 645D. Pentax also plans to release a new compact, mirrorless interchangeable lens camera dubbed the Q-system.

It remains unclear, however, what will happen of Pentax's European operations. Hoya writes that "with respect to one of Hoya' European marketing companies for the Pentax Imaging Systems Business, Hoya will make a final determination on whether or not [it] will transfer PEIS' shares to NewCo [Pentax's new name after the sale] upon completing prior negotiations with PEIS' workers counsel as required under applicable laws."

In a statement released to BJP, Pentax UK welcomes the news: "Ricoh is globally renowned within the digital camera industry, having successfully brought a range of products to market since its inception in 1939," says Jonathan Martin, general manager of Pentax Imaging Systems UK. "We are extremely pleased with today's announcement and see this as the natural next step in the evolution and continued development of the Pentax brand in the UK and abroad. With Ricoh's involvement we can continue to grow the Pentax business in the UK and ensure we maintain our commitment to provide our customers with innovative, cutting edge, high quality products to suit all camera users."

In regards to Pentax Europe, a spokeswoman says: "With regard to the French subsidiary (PEIS) (or its UK and German subsidiaries), the transfer of shares will be finalised after consultation with the workers counsel of PEIS which is required under the French law."

She adds: "If the transfer of shares of PEIS has not been finalized by the scheduled closing date, the closing date may be postponed."

The acquisition does not include Pentax's digital camera module, DVD pickup lens, endoscope, artificial bone, and voice synthesis businesses.

The news comes after Hasselblad revealed yesterday that it had been acquired by  German private equity firm.

For more, read BJP's technical expert's take on the deal - Pentax sold to Ricoh: Does it make sense?