DGAP-News: Orad Hi-Tec Systems Ltd: Orad acquires 63 Percent of Integrated Broadcast Information Systems
(firmenpresse) - DGAP-News: Orad Hi-Tec Systems Ltd / Key word(s): Miscellaneous
Orad Hi-Tec Systems Ltd: Orad acquires 63 Percent of Integrated
Broadcast Information Systems
20.07.2011 / 08:41
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Orad Hi-Tec Systems Limited (Symbol: OHT), a world leading provider of
real-time video graphic solutions announced today the signing of an
investment agreement for 63.38% of Integrated Broadcast Information Systems
Limited, (IBIS). As part of the deal Orad will invest 2.11 million US
dollars in cash with an option to increase its holdings to 100% within the
next 54 months. Future investment price is dependent on the future
revenues and net profits. Completion of the transaction is expected within
the next 3 months.
IBIS was established in 1991 and specialises in the fast growing market of
Media Asset Management (MAM) for fast turn-around file based workflows in
Sports and News.
IBIS's headquarter is in the UK with support operations in North America
and Asia. Some of IBIS's customers include ESPN Star Sports, the BBC and
the Irish Parliament, Dublin.
With the growing market demand for fast turnaround tapeless workflows in
the sports broadcasting market, Media Asset Management technologies enable
the exploitation of customer's media and effectively manage it; during such
events it is imperative to capture and catalog key plays during the event
at the fastest and most efficient fashion. The IBIS solution does just
that. The IBIS iFind is an integrated suite of browser based Media Asset
Management (MAM) applications providing users with the functionality to
ingest, annotate, tag, store, edit, move and transmit or publish media
content.
Avi Sharir President and CEO of Orad commented 'we are extremely happy with
the acquisition of IBIS. We see many synergies between IBIS's portfolio and
Orad's graphics and video server range of solutions. The integrated
solution between Orad and IBIS will further enhance Orad's position in the
sport and news market segments, offering our customers significant added
value'
Mike Shaw Managing Director of IBIS commented 'we are delighted to be
joining forces with Orad and the combination of our products make a
powerful offering for the demanding environments of sport and news. The
relationship will allow us to grow and further exploit our innovative
solutions in this exciting market'
About Orad Hi-Tec Systems
Orad Hi-Tec Systems is a world-leading provider of real-time 3D broadcast
graphics solutions including news, channel branding, sports production and
enhancement, elections and special events, virtual studios, and virtual
advertisement. Orad's compelling solutions streamline production workflow,
enhance viewer experience, and improve production value. Founded in 1993,
Orad is a public company listed on the Frankfurt Stock Exchange Prime
Standard (OHT).
More information is available at www.orad.tv
For further information contact:
ORAD Hi-Tec Systems Ltd
Ehud Ben Yair, CFO
ehudb(at)orad.tv
Edicto Investors Relations
Dr. Sönke Knop
Frankfurt Germany
+49 69-90550551
sknop(at)edicto.de
End of Corporate News
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20.07.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Orad Hi-Tec Systems Ltd
15 Atir Yeda str POB 2177
44425 Kfar Saba
Israel
Phone: +972-9-7676862
Fax: +972-9-7676861
E-mail: orad(at)orad.tv
Internet: www.orad.co.il
ISIN: IL0010838071
WKN: 928634
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; London
End of News DGAP News-Service
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132584 20.07.2011
Datum: 20.07.2011 - 08:41 Uhr
Sprache: Deutsch
News-ID 34648
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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