Vizrt Acquires LiberoVision AG
(Thomson Reuters ONE) -
Oslo, Norway, November 19, 2010 Vizrt Ltd. (Oslo Main List: VIZ)
Vizrt, a leading provider of content production tools for the digital media
industry, announced today that it has entered into a terms sheet with Swiss
company LiberoVision AG, a leader in the field of virtual sports enhancements.
According to the proposed terms sheet, Vizrt Ltd. shall purchase all of the
issued and outstanding share capital of LiberoVision in three installments: 60%
upon signing of the definitive agreement, 20% upon approval of the financial
statements of LiberoVision for the year 2011 and 20% upon approval of the
financial statements of LiberoVision for the year 2012.
The consideration for the first 60% of the issued share capital of LiberoVision
shall be CHF 6 million (approx. USD 6.12 million) and may be increased by an
additional 1 CHF million (approx. USD 1.02 million) should the EBIT for the year
2010 of LiberoVision exceed CHF 1 million.
The consideration for each of the additional 20% of the issued share capital of
LiberoVision shall be calculated as 20% of ten times the EBIT for the applicable
fiscal year.
All installments shall consist of 80% cash and 20% Vizrt Ltd. shares. As part
of the transaction the founders of LiberoVision are committed to continue their
employment with LiberoVision for a period of at least two years.
The transaction is subject to a financial and legal due diligence to Vizrt's
satisfaction and the parties reaching a definitive agreement.
Martin Burkhalter, Chief Executive Officer of Vizrt said: "LiberoVision brings
to Vizrt best of class additional capabilities to enhance sports broadcasts.
Their products allow for live on-air review and analysis of events on the field,
also from points of view not captured by cameras, a large and growing market.
In creating a seemingly 3D environment for normal 2D broadcasts, this type of
analysis provides yet another compelling way to tell a story, a key driver
behind all our BG products. Efficiency, another key component, is provided in
that LiberoVision's technology does not require any additional in-stadium
infrastructure."
"It is this ability to provide broadcasters with great additional functionality
that makes such a strong case to content owners. It has always been our
strategy to help clients increase the economic value of their digital assets and
LiberoVision fits seamlessly with this strategy. Integration of both systems
will allow us to take the combined offering to our existing customers and
attract new ones."
Dr. Stephan Würmlin Stadler, CEO for LiberoVision AG, stated, "Many of our
clients who are already using Vizrt systems have indicated they would like to
see the two systems more closely integrated. Combining our companies therefore
seemed to most logical way forward."
"We bring to the table a technology that differs greatly from other providers in
that other systems produce results that clearly look like virtual animations,
like avatars. With our virtual instant replay technology, on the other hand,
you know that the player is Lionel Messi, it feels like you are there on the
field. That realism is due to LiberoVision's patented image processing
technology that transforms the camera feeds into 3D representations. Although
certain great and complex technologies can achieve this in a way that is pixel
perfect, it takes two days to do so. In our markets, no one is interested in
two days. We can do it instantly.
"We see great opportunities in joining forces with Vizrt, as it will allow both
organsiations to expand their product offering to a large and growing customer
base. We at LiberoVision are very excited to pursue these opportunities as part
of the Vizrt organisation, which has proven to be commercially very successful
and, like us, is very driven by innovation, quality and customer requirements."
LiberoVision currently offers two product lines. Libero Highlight provides
realistic 3D replays that are indistinguishable from images produced by on-site
television cameras. It enables the broadcaster to move the viewer's perspective
to areas not covered by the in-stadium cameras, such as over-the-shoulder of the
quarterback.
Libero Offside was developed for instant offside analysis during soccer games.
It is a dedicated application aimed at resolving offsides disputes during soccer
games.
About LiberoVision:
LiberoVision is the global leader for virtual sports enhancements. Based on
existing TV images only, Libero Highlight and Libero Offside generate the
perfect perspective for analyzing interesting or controversial scenes. The
vision is to provide sports fans with unlimited insights into sport games.
LiberoVision's Emmy nominated technology is available for football, American
football, basketball, ice hockey, baseball, and rugby. Broadcasters around the
world such as ESPN, NBC, BBC, ZDF, Sky Italia, or Televisa use LiberoVision to
enhance their sport analysis.
The company was founded 2006 as a spin-off of the ETH Zurich, the Swiss Federal
Institute of Technology, which counts Einstein as one of its alumni.
More information atwww.liberovision.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 latest addition to its portfolio is Adactus' software platform enabling
delivery and presentation of adapted multimedia content for mobile terminals,
such as smart phones, tablet PCs and smart TVs.
Vizrt's product suite is used by the world's leading broadcasters, publishing
houses and telecom operators, including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star
TV, Network 18, TV Today, CCTV, NHK, The Globe and Mail, The Telegraph, Welt
Online, Etisalat and Telia Sonera. Furthermore, many world-class production
houses and institutions, including both the New York and London Stock Exchanges,
utilize Vizrt solutions.
More information atwww.vizrt.com
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
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#1463823]
Vizrt PR:
http://hugin.info/138784/R/1463823/402478.pdf
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Source: Vizrt Ltd. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 19.11.2010 - 10:45 Uhr
Sprache: Deutsch
News-ID 48940
Anzahl Zeichen: 8257
contact information:
Town:
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Kategorie:
Business News
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