Vizrt Formalizes Collaboration with 2D to 3D Conversion Developer Stergen
(Thomson Reuters ONE) -
Bergen, Norway, October 26, 2010 Vizrt Ltd. (Oslo Main List: VIZ)
Vizrt Ltd., a leading provider of content production tools for the digital media
industry, today announced that it has formalized its strategic collaboration
with Stergen Hi-Tech Ltd., as published at IBC 2010. Stergen is a developer of
2D to stereoscopic 3D video conversion software. Vizrt now offers tight
integration between Stergen stereo 3D conversion software tailored to sports TV
networks, sports leagues and webcasters and its own stereo 3D graphics
portfolio.
With this new agreement, Vizrt will make an equity investment in Stergen of
approximately USD 1.86 million, made up both of a cash payment and marketing
services, in consideration for preferred shares. In addition, the parties have
entered into a teaming agreement with respect to the sale of Stergen's products
by Vizrt. Vizrt will hold approximately 20% of Stergen.
Martin Burkhalter, Vizrt CEO, stated, "We like to formalize our partnerships
through taking a stake when we see technology that fits our objectives of
delivering innovative products that add to our current offering and more
importantly, provide an advantage to our customers in view of future market
developments."
"With more than 28 million 3D capable TVs forecasted to be in homes by 2012,
demand for technology that enhances broadcasters' ability to tell their stories
through this new technology is already increasing and is set to accelerate.
What also makes the Stergen software so attractive is its ability to convert
existing 2D footage to 3D specs, thereby allowing content owners to increase the
value of their media assets, which links very well with our content management
philosophy."
Dr. Miky Tamir, founder of Stergen, also co-founder of Orad, SportVu, Seambi and
Vumii, stated, "We produce high-fidelity, broadcast-quality 3D with even better
depth perception than video captured by stereo 3D cameras and rigs. Unlike real
3D shooting, we have almost infinite capability to dynamically change the
stereoscopic setting."
Martin Burkhalter added, "Stergen's 2D to 3D stereo conversion tools can
complement live stereo 3D production, as well as offer a compelling alternative
to expensive, logistically complex, live stereo 3D production. It cuts costs
without compromising superior, broadcast quality, which matches Vizrt's strategy
of offering superior products that address the economic realities of our
customers."
Early next year, Stergen plans to introduce a live version of its Highlights
software that converts 2D video to stereo 3D in real-time for delivery to stereo
3D cinemas, mobile devices and home entertainment centers. Stergen's real-time
conversion software includes Stergen Arena, which connects to a single, live 2D
camera output to produce live stereo 3D video from sports arenas and mobile
video units; and Stergen Studio, for use in broadcast studios or cable head-ends
to convert live, 2D video programs to stereo 3D in real-time.
About Stergen:
Stergen is an Israeli startup company founded on January 2010 by Miky Tamir, Avi
Klinger, Itzik Wilf and TheTime Investment Company. Stergen develops 2D to 3D
video conversion technologies for the TV sports market. Its biggest shareholder,
TheTime, headed by Ilan Shiloach, Nir Tarlovsky and Uri Weinheber, focuses on
investments in Israeli companies in the fields of Telecom, Internet, Media and
Entertainment. TheTime manages a portfolio of more than 20 companies.
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 22 365 7501
mburkhalter(at)vizrt.com
Ofra Brown
CFO
+47 5351 8040
Schwarz Financial Communication
Frank Schwarz
+49 611 1745 3980
schwarz(at)schwarzfinancial.com
[HUG#1455391]
Press Release as PDF:
http://hugin.info/138784/R/1455391/395323.pdf
This announcement is distributed by Thomson Reuters on behalf of
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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.
Source: Vizrt Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 26.10.2010 - 17:30 Uhr
Sprache: Deutsch
News-ID 46316
Anzahl Zeichen: 0
contact information:
Town:
Bergen
Kategorie:
Business News
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"Vizrt Formalizes Collaboration with 2D to 3D Conversion Developer Stergen"
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