Vizrt Completes Acquisition of Adactus
(Thomson Reuters ONE) -
Closes the purchase of remaining 71% of company
Oslo, Norway, July 12, 2010 Vizrt Ltd. (Oslo Main List: VIZ)
Further to the announcement of February 2, 2010, Vizrt Ltd. announced today, the
completion of its acquisition of the remaining 71% in Adactus A.S. for a
consideration of NOK 21.30 million (approx. USD 3.34 Million). The consideration
is to be paid in cash and values Adactus at NOK 30.0 million (approx. USD 4.71
million).
"The acquisition of Adactus brings additional powerful tools to the expanding
Vizrt product suite and specifically targets the emerging world of mobile
distribution", stated Martin Burkhalter, Vizrt's CEO. "With more than 1,700
video capable cell and smart phones on the market today, mobile TV is the
fastest growing delivery medium for video and is already a common platform for
many viewers. While broadcasters and other owners of compelling video content
deliver via the web, mobile distribution promises substantial revenue growth.
With a comprehensive and easy to use set of tools, Vizrt is uniquely positioned
in the market to enable broadcasters and others to efficiently distribute to
mobile devices."
Trondheim (Norway) based Adactus is a software company offering solutions for
delivery and presentation of adapted multimedia for mobile terminals, such as
smart phones, tablet PCs and smart TVs. Based on the MPEG-21 standard, the
company offers custom designed and easy to use applications that enable content
distribution and content gathering for Mobile TV as well as Internet TV.
The full integration of Adactus solutions into the Vizrt product suite enables
content providers to easily manage both mobile distribution and mobile
contribution to their existing workflows. With the acquisition of Adactus, Vizrt
now offers the only proprietary platform in the marketplace that can produce the
required video streams for the various display devices, broadcast, web and
mobile, all in one seamless workflow.
Adactus products have been chosen, among others, by organizations such as Turner
Broadcasting Systems, Etisalat and BBC World Service, for their live and
recorded video streaming and news-gathering operations.
Vizrt's cooperation with Adactus began in October 2005 when the Company made an
investment as a commitment to the joint development of a project for a graphics
engine for mobile devices. The two companies have maintained a close
relationship at both the technical and business levels, which will ensure a
smooth integration of the Adactus operations into Vizrt.
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, Tele5, laSexta, ETB, TV3,
Antena3 and FC Barcelona, 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.
Investors and media contacts:
Martin Burkhalter
CEO
+41 (79) 795 24 48
mbu(at)vizrt.com
Ofra Brown
CFO
+47 5351 8040
ofra(at)vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz(at)schwarzfinancial.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1431114]
Press Release as PDF: http://hugin.info/138784/R/1431114/377640.pdf
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(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.
All reproduction for further distribution is prohibited.
Source: Vizrt Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 12.07.2010 - 17:00 Uhr
Sprache: Deutsch
News-ID 23780
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contact information:
Town:
Bergen
Kategorie:
Business News
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"Vizrt Completes Acquisition of Adactus"
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