Company NewsNovember 19, 2010
LiberoVision to be Acquired by Vizrt Ltd.
LiberoVision, a leader in the field of virtual sports enhancements, announced today that it has entered into a term sheet with Vizrt Ltd., a leading provider of content production tools for the digital media industry.
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.
WILL LIBEROVISION CUSTOMERS BE AFFECTED BY THE ACQUISITION?
- No. Vizrt and LiberoVision will remain committed to the existing customers, products, partners, and markets. Together with its partners, LiberoVision will continue to serve its customers.
WILL LIBEROVISION CONTINUE TO OFFER ITS SOLUTIONS?
- Yes. LiberoVision will continue to offer Libero Highlight and Libero Offside to its customers.
HOW WILL LIBEROVISION'S CUSTOMERS BENEFIT FROM THIS ANNOUNCEMENT?
- With the brand and reach of Vizrt behind it, LiberoVision can move to the next dimension. We look forward to enhancing the LiberoVision product palette and delivering new and innovative products and features for both LiberoVision's and Vizrt's customers.
WHAT HAPPENS TO LIBEROVISION'S EXISTING CUSTOMERS?
- Business will continue as usual for existing LiberoVision customers. We are committed to making sure that the current offerings and quality of service are not compromised. For the future, we look forward to offer new, innovative, and exciting features and products.
WILL THERE BE ANY CHANGES IN PRICING OR SERVICE OFFERING?
- No. Currently not.
WHY IS VIZRT ACQUIRING LIBEROVISION?
- LiberoVision allows Vizrt to extend their portfolio of real-time 3D graphics and asset management tools for the broadcast industry. LiberoVision's team and products are tremendous assets to Vizrt to strengthen their position in the sports broadcast market.
WHY DID LIBEROVISION DECIDE TO SELL THE COMPANY?
LiberoVision believes that Vizrt's brand and global reach will accelerate the product reach, development, and innovation. We are excited to team up with one of the world's largest broadcast graphics technology suppliers.
Together, LiberoVision and Vizrt can offer our customers more options to benefit even more from LiberoVision's unique products.
- LiberoVision believes that Vizrt's brand and global reach will accelerate the product reach, development, and innovation. We are excited to team up with one of the world's largest broadcast graphics technology suppliers.
About LiberoVision AG
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 at www.liberovision.com
About Vizrt Ltd.
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.
Vizrt is a public company traded on the Oslo Main List: VIZ, ISIN: IL0010838154.
More information at www.vizrt.com
LiberoVision AG, Technoparkstrasse 1, CH-8005 Zurich, Switzerland
- Stephan Würmlin Stadler, CEO LiberoVision AG: +41 44 277 65 02, firstname.lastname@example.org
- Christoph Niederberger, CTO LiberoVision AG: +41 44 277 65 03, email@example.com