Closing of the Acquisition of Ardendo AB
Bergen, Norway, May 8, 2006. As announced on April 26, 2006, Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ) has entered into a share purchase agreement with the shareholders of Ardendo AB ("Ardendo") for the acquisition of all the shares inArdendo. Vizrt is pleased to announce that the acquisition of Ardendo was completed onMay 5, 2006.
Upon completion of the transaction, Vizrt issued 2,912,790 new shares to the sellers in consideration of all the shares of Ardendo. The calculation of the amount of new shares was based on an average closing price of the Company's shares on the Frankfurt Stock Exchange for 20 trading days prior to the signing of the letter of intent dated December 21, 2005.
Vizrt will publish a prospectus required for the listing of the new shares on May 8, 2006, and expects that the new shares will be admitted to trading at the Oslo Stock Exchange on May 9, 2006 and at the Frankfurt Stock Exchange late May or early June 2006. The new shares will trade under ISIN no. IL0010968415 and under the ticker VIZN until the shares have been admitted to trading at the Frankfurt Stock Exchange, at which time they will start trading under the same ISIN no. and ticker as the other ordinary shares of Vizrt.
About Vizrt:
Vizrt is the world's leading provider of HD/SD real-time 2D and true 3D broadcast graphics. The company's software suite offers a complete graphics solution including: character generation, content management and newsroom integration, 3D tickers, virtual studio, 3D weather application with data integration, Curious Software map creation tools, virtual sports analysis, information display and virtual effects.
Vizrt will publish a prospectus required for the listing of the new shares on May 8, 2006, and expects that the new shares will be admitted to trading at the Oslo Stock Exchange on May 9, 2006 and at the Frankfurt Stock Exchange late May or early June 2006. The new shares will trade under ISIN no. IL0010968415 and under the ticker VIZN until the shares have been admitted to trading at the Frankfurt Stock Exchange, at which time they will start trading under the same ISIN no. and ticker as the other ordinary shares of Vizrt.
About Vizrt:
Vizrt is the world's leading provider of HD/SD real-time 2D and true 3D broadcast graphics. The company's software suite offers a complete graphics solution including: character generation, content management and newsroom integration, 3D tickers, virtual studio, 3D weather application with data integration, Curious Software map creation tools, virtual sports analysis, information display and virtual effects.
All Vizrt's graphics products are powered by a single core renderer, the unique and powerful Viz|Engine(TM). Vizrt's graphics solution goes beyond the visual aspect and includes highly customized user interfaces for the designer, operator, journalist and engineer.
The world's leading broadcasters, such as CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, TV Today, CCTV and NHK as well as Production houses and Corporate institutions, including both the New York and London Stock Exchange, use the Vizrt's software suite. Vizrt is a public company traded on the Frankfurt Prime Standard and on the Oslo Main List: VIZ, ISIN: IL0010838154.
Press contacts:
| Ofra Brown | Kathrine Wallace | SCHWARZ Financial Communication |
| CFO | VP Marketing | Frank Schwarz |
| +47 2169 2790 | +47 55 90 8265 | +49 172 6153 160 |
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of Vizrt and its affiliates. These statements are based on the current expectations or beliefs of Vizrt's management and are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, the company's concentration on one industry, decline in demand for the company's products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of the company to differ materially from those contemplated in such forward-looking statements. Vizrt undertakes no obligation to publicly release any revisions to these forward- looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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