Vizrt closes third tranche of LiberoVision AG acquisition
(Thomson Reuters ONE) -
Bergen, Norway, February 27, 2013. Vizrt Ltd. (Oslo Main List: VIZ)
Further to the successful closing of the first and second tranches of the
acquisition of LiberoVision AG in July 2011 and March 2012, Vizrt announced
today that on February 26, 2013, pursuant to the Share Purchase Agreement, it
has closed the third and final tranche of the acquisition of LiberoVision AG
(LV), a leader in the field of virtual sports enhancements.
The consideration for the third tranche is calculated as 20% of ten times the
EBIT for 2012. Based on LV financial results for 2012, the consideration to be
paid is CHF 2,219,864 (approx. MUSD 2.4). Following the closing, Vizrt holds
100% of the outstanding share capital of LiberoVision AG.
All installments consist of 80% cash and 20% Vizrt Ltd. shares. This means that
the cash consideration for the third tranche is CHF 1,775,891.2 (approx. MUSD
1.9). The remaining 20% will consist of 135,908 shares of Vizrt Ltd.
Consequently the number of shares outstanding is 66.955,763.
Total consideration paid in cash and shares for the purchase of LiberoVision AG
is MUSD 10.4
Investors and media contacts:
Martin Burkhalter
President & CEO
+41 22 365 75 01
mbu(at)vizrt.com
Tomer Wald
CFO
+47 5351 8040
twald(at)vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz(at)schwarzfinancial.com
About Vizrt:
Vizrt provides real-time 3D graphics and asset management tools for the
broadcast industry - from award-winning animations & maps to online publishing
tools. Vizrt's products are used by the world's leading broadcasters and
publishing houses, including: CNN, CBS, Fox, the BBC, BSkyB, ITN, ZDF, Star TV,
Network 18, TV Today, CCTV, NHK, The Globe and Mail, Times Online, The
Telegraph, and Welt Online. Furthermore, many world-class production houses and
corporate institutions such as the Stock Exchanges in New York and London use
Vizrt systems.
Vizrt is a public company traded on the Oslo Main List: VIZ, ISIN: IL0010838154.
For further information please refer to www.vizrt.com
Copyright © Vizrt. All rights reserved. This press release contains forward-
looking statements with respect to the business, financial condition and results
of operations of Vizrt and its affiliates. These statements are based on the
current expectations or beliefs of Vizrt's management and are subject to a
number of risks and uncertainties that could cause actual results or performance
of the Company to differ materially from those contemplated in such forward-
looking statements. These risks and uncertainties relate to changes in
technology and market requirements, the company's concentration on one industry,
decline in demand for the company's products and those of its affiliates,
inability to timely develop and introduce new technologies, products and
applications, and loss of market share and pressure on pricing resulting from
competition, which could cause the actual results or performance of the company
to differ materially from those contemplated in such forward-looking statements.
Vizrt undertakes no obligation to publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vizrt Ltd. via Thomson Reuters ONE
[HUG#1681237]
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News-ID 233703
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