CORRECTION: Vizrt Decides for Complete Takeover of Adactus
(Thomson Reuters ONE) - This is a correction of the announcement from 07:30 10.02.2010 CET.Reason for the correction: pdf replacedBergen, Norway, February 10, 2010. Vizrt Ltd. (Oslo Main List: VIZ)Vizrt Ltd., a leading provider of content production tools for the digital mediaindustry, today announced that its Board of Directors has approved in principlethe purchase of the remaining 71.01% of the issued share capital of privatelyheld Adactus A.S. ("Adactus"). The deal values Adactus at NOK 30 million(approx. USD 5.1 M). Vizrt currently holds 28.99% of the issued share capital ofAdactus, with the first investment made in September 2005 as a commitment forjoint development projects.The proposed transaction is subject to a financial, legal and commercial duediligence review to the satisfaction of Vizrt and reaching an agreed upondefinitive agreement with Adactus' shareholders. The Board of Directors ofVizrt has authorized the management of Vizrt to conclude the proposedtransaction based on the above guidelines.Adactus has developed a multimedia delivery platform based on the newly-evolvingISO standard, MPEG-21, as well as a mobile content gathering and deliverysolution.The proliferation of mobile and other content access devices, such as smartphones, tablet PCs and smart TVs, means that content has to be delivered inconformity with the different (screen)formats and capabilities of each of thesedevices. Adactus was founded with these requirements in mind, and the companyhas developed the tools that are needed to serve this fragmented market. TheCompany's solutions ensure that, for instance, the video you see on your Nokiamobile is optimized for that device, and that people using the iPhone can getthat same video, from the same source, in a size and quality that is optimizedfor their screen.Significant resources have been spent by content providers on testing varioussolutions available to meet with this need to deliver content to various mobileterminals each with different specifications. Turner from the US (CNN, CartoonNetwork, etc) and Norway's NRK are two of the many companies that have selectedAdactus as their video delivery platform.Another aspect of Adactus's business is their content gathering solution, wherejournalists (or private individuals) record and gather content on their mobilephone and deliver this to news organizations, enabling many exclusives andbreaking news content where otherwise there would be no content.Bjarne Berg, Vizrt's CEO, stated, "The market for content delivery to mobileterminals is increasing in importance and is fast growing. Fully integratingthis capability with Vizrt's other content production and distributioncapabilities, allows further strengthens our offering to content deliveryhouses. They know, as we do, that offering the best viewing experience iscritical to growing market share and related revenues."He continues, "The decision to acquire the rest of Adactus was an easy one. Wehave worked with the Company for some time, already hold a significant stake andhave two serving Board members. As a result, we know Adactus, its capabilitiesand markets well. Following satisfactory due diligence and Board approval of thetake-over, we therefore anticipate a smooth integration with Vizrt'soperations."About Adactus:Adactus is a software company offering solutions for delivery and presentationof adapted multimedia for mobile terminals. Based on the ISO standard MPEG-21,we control the delivery of content into detail with respect to Quality ofService and Quality of Experience. We deliver custom designed and easy to useapplications for mobile terminals, and offer improvements in functionality anduser experience.About Vizrt:Vizrt creates leading-edge content production tools for the digital mediaindustry - from award-winning 3D graphics & maps through integrated videoworkflow solutions and online publishing tools.We propose a new vision for content creation, management and delivery with anend-to-end solution from conception to multi-format distribution. Throughconstant innovation and a good measure of fun, we create software and servicesthat push creative boundaries and develop new ways of telling stories.Vizrt's product suite is used by the world's leading broadcasters and publishinghouses, including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, Network 18, TVToday, CCTV, NHK, The Globe and Mail, The Telegraph, and Welt Online.Furthermore, many world-class production houses and corporate institutions,including both the New York and London Stock Exchanges, utilize Vizrt solutions.Vizrt is a public company traded on the Oslo Main List: VIZ, ISIN: IL0010838154.Investors and media contacts:Bjarne BergPresident & CEO+47 9055 7711bberg(at)vizrt.comOfra BrownCFO+47 5351 8040ofra(at)vizrt.comSCHWARZ Financial CommunicationFrank Schwarz+49 611 1745 398 11lakmaaker(at)schwarzfinancial.comThis information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1383744] Press Release as PDF: http://hugin.info/138784/R/1383744/342569.pdf
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Datum: 11.02.2010 - 18:14 Uhr
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