In 1966, Victor Hasselblad sold the distribution company and retailer network "Hasselblad Fotografiska AB" to Kodak, ending their long-term partnership, but not the friendships upon which it was based. In 1976, Victor was ready to turn over the reigns of his company and chose the Swedish investment company, Säfveån AB, who bought Victor Hasselblad AB.
In 1978, at the age of 72, Victor Hasselblad passed away. In his will he left the majority of his sizeable fortune to the Erna and Victor Hasselblad Foundation. The purpose of the foundation is to promote research and academic teaching in the natural sciences and photography. The annual photographic prize, The Hasselblad Foundation International Award in Photography is the most prestigious photographic award in the world and a fitting memorial to Victor and the world of photography that he loved so much. For more information about the Hasselblad Foundation and its activities and awards, log on to their website.
In 1984 VHAB (Victor Hasselblad AB) was listed on the Stockholm Stock Exchange, with Säfveån retaining 57.5% of the shares. In 1985 VHAB, still at the forefront of camera development, established the subsidiary, Hasselblad Electronic Imaging AB, for the development, production, and marketing of digital imaging systems and systems for digital transmission of images.
This establishment was one of the first dedicated approaches to the new digital photography market. That same year, the Swedish company Incentive AB acquired 58.1% of the shares in VHAB, making it the majority shareholder. In 1991 Incentive acquired the remaining shares and. VHAB became once again a privately held company. In 1996 Incentive sold the company to UBS, CINVen, and the Hasselblad Management.
Throughout the company’s history, Hasselblad has carefully selected its suppliers and collaborative partners, forming long-term relationships with such renowned companies as Kodak and Zeiss to name but a few. In 1998 the result of one such partnership allowed Hasselblad, along with Fuji Photo Film, to once again revolutionize the camera industry with the introduction of the new Hasselblad XPan camera. This unique system was developed and produced by Hasselblad in close co-operation with Fuji. The XPan (see link) utilizes standard 35 mm film to produce medium format panorama images or standard 35 mm shots on the same roll of film. The camera represents the fruit of a long term research and development collaboration project relating to 35 mm, film-based, dual-format cameras for professional and discerning amateur photographers. With this camera concept Hasselblad adds a new dimension to the world of 35 mm film and a perfect complement to the already extensive Hasselblad camera system.
In 2002, another revolutionary camera system was launched. This time is was a 6x4.5 medium format camera incorporating the latest in technological developments including autofocus and very advanced electronic chip control. It was designed with digital technology in mind and became an immediate success. A few months later, The Shriro Group - a long-standing Hasselblad distributor for the Asian Pacific region – acquired the majority shareholding of Victor Hasselblad AB. Changes also occurred in general production when a new facility was built in Gothenburg to relieve the pressure from the outgrown Hasselblad building which had been home to the cameras almost from the outset. In line with the new facility and the new technologically advanced camera system, Hasselblad took another large step forward when Shriro acquired Imacon, the Danish digital back and scanner manufacturer. The two companies then merged into a synergistic combination with a good deal of focus on digital developments to meet the growing demand from professional photographers.
And the story continues, in space as here on earth. Our development and evolution do not stop. We are constantly progressing, constantly perfecting the cameras that bear Victor’s name. And we are constantly striving to follow his example; to take the most useful aspects of modern technology, infuse them with traditional quality and craftsmanship, and produce cutting edge tools that will be just as reliable fifty years from now as they are innovative today.