Vizrt Acquisition strengthens the future for Escenic’s customers
Oslo, Norway, July 2, 2008, Vizrt Ltd., announced today that it has agreed to acquire all shares in Escenic AS through a Share Purchase Agreement that includes both cash and Vizrt shares. The combined companies will be one of the strongest groups to deliver technical solutions for publishing to various digital channels worldwide.
The companies have some of the world’s largest and most influential media companies in their customer portfolio.
"This is a natural next step for Escenic. Our new owner strengthens our commitment to providing the industry's best tools for online publishing. Escenic's customers; Newspapers, entertainment sites and privately held and Government portals will as a result of this purchase have access to technologies and tools that will enable them to compete even more effectively in their local markets”, says Knut I. Skeid, CEO of Escenic AS.
Escenic has already, together with Vizrt, developed tools and plug-in modules that enable TV-style high resolution graphics into Escenic based web-pages, and the development roadmap between the cooperating companies shows more tools to come.
“We are convinced that our customers will expect such advanced publishing tools in the near future. Together with Vizrt we can offer our customers the opportunity to utilize these technologies, giving Escenic staff the ability to refine and further develop our existing applications”, Mr. Skeid adds.
According to the Share Purchase Agreement, Escenic AS will continue as a legal entity under its existing management, as a part of the Vizrt Group.
About Vizrt:
Vizrt offers a new vision for content creation and delivery with an end-to-end solution from ingest to visualization. Our solution combines Vizrt’s true 2D/3D graphics tools with Curious Software’s World Maps and Ardendo’s Asset Management. Running on non proprietary software and hardware, the combination of these unique cutting edge products ensures a seamless workflow from conception to multi-format distribution. The latest addition to the Vizrt product range is the Viz|Multi Platform Solution. Vizrt’s product suite is used by the world’s leading broadcasters including: CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, TV Today, CCTV and NHK. Also, many world-class production houses and corporate institutions, including both the New York and London Stock Exchanges, utilize Vizrt solutions. Vizrt is a public company traded on the Frankfurt Prime Standard and on the Oslo Main List: VIZ, ISIN: IL0010838154. For further information please refer to www.vizrt.com
About Escenic (www.escenic.com):
Escenic is strategic content management software for digital media publishing. Escenic technologies drive over 550 of the most dynamic and exciting news media websites in the world. Escenic has been closely tied to the media industry since 1997. Today we are proud to be considered industry leaders in our sector. With Escenic, competitive commercial enterprises gain access to the same robust technologies that professional publishers have preferred for years.
For more information:
Knut I Skeid, CEO, Escenic AS, +47 9222 0352, knut.skeid@escenic.com
Bjarne Berg, President & CEO, Vizrt Ltd., +47 9055 7711, bberg@vizrt.com
