Company NewsMay 6, 2011
LiberoVision Signs Definitive Purchase Agreement
LiberoVision, the global leader for virtual sports enhancements, announced today that further to earlier announcements the company has reached a definitive share purchase agreement with regards to the acquisition of all shares by Vizrt Ltd., a leading provider of content production tools for the digital media industry.
Pursuant to the share purchase agreement, Vizrt Switzerland SARL, a wholly owned subsidiary of Vizrt Ltd., shall purchase all of the issued and outstanding share capital of LiberoVision in three installments. First closing will take place approximately 30 days following the signing of the agreement. Vizrt will obtain the first 60% of the outstanding share capital in LiberoVision. A further 20% will be acquired following receipt of the financial results of LiberoVision for the financial year 2011 and the remaining 20% following receipt of LiberoVision's financial results for the financial year 2012.
Dr. Stephan Würmlin Stadler, CEO for LiberoVision AG, stated, "Many of our existing clients already use Vizrt technology in their operations and they have indicated that a closer integration between our technologies would present obvious benefits. The complementary nature of our product lines presents clear opportunities for cross-sales. The acquisition will also allow us to leverage Vizrt's global commercial operations and provide access to the supporting infrastructure needed to introduce our products to a wider audience."
Martin Burkhalter, CEO for Vizrt, stated, "We're pleased to have finalized the purchase agreement, which will allow us to integrate LiberoVision's technology further into our own sports offerings. At this year's NAB, we successfully showcased the first steps in the integration of LiberoVision's Libero Highlight 3D sports analysis and replay system with Vizrt's broadcast graphics and media asset management (MAM) workflow. With this integration, we can address our respective client bases with an even stronger platform."
For LiberoVision the acquisition by Vizrt provides numerous advantages. First, the immediately accessible worldwide distribution network of Vizrt will increase the outreach of LiberoVision’s products and solutions to all sportcasters worldwide and, thus, will bring LiberoVision even closer to the clients and faster to the sports audience.
Second, Vizrt’s product portfolio complements with LiberoVision top-of-class sports products to a one-shop-stop solution for broadcasters with the pursuit of 'telling a story differently'.
Third, with a great technological match and the complementary product portfolio an integration of the LiberoVision products into the Vizrt workflow solutions will significantly enhance the economic value for the customers and leverage more flexible solutions for the customers.
LiberoVision was founded in 2006 as a spin-off of the ETH Zurich, the Swiss Federal Institute of Technology. Today, LiberoVision is the global leader for virtual sports enhancements, employing 17 people. Based on existing TV images only, Libero Highlight and Libero Offside generate the perfect perspective for analyzing interesting or controversial scenes.
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, and Televisa use LiberoVision.
LiberoVision has been funded by Swisscom, the Zurich Cantonal Bank and the Swiss foundation for national economics promotion.
The current members of the company´s Board of Directors are Christoph Niederberger, Stephan Würmlin Stadler, Markus Gross and Nils Granath. Concurrently with the purchase of the first 60%, Mr. Gross and Mr. Granath shall resign as directors and Vizrt shall appoint the following three members LiberoVision´s Board: Martin Burkhalter (CEO for Vizrt), Petter Ole Jakobsen (CTO for Vizrt) and Kurt Gehriger (Controller for Vizrt Switzerland). Current and future executive Management will comprise of Stephan Würmlin Stadler, CEO, and Christoph Niederberger, CTO.
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.
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