Closes the purchase of remaining 71% of company

Oslo, Norway, July 12, 2010 Vizrt Ltd. (Oslo Main List: VIZ)

Further to the announcement of February 2, 2010, Vizrt Ltd. announced today, the completion of its acquisition of the remaining 71% in Adactus A.S. for a consideration of NOK 21.30 million (approx. USD 3.34 Million). The consideration is to be paid in cash and values Adactus at NOK 30.0 million (approx. USD 4.71 million).

"The acquisition of Adactus brings additional powerful tools to the expanding Vizrt product suite and specifically targets the emerging world of mobile distribution", stated Martin Burkhalter, Vizrt's CEO. "With more than 1,700 video capable cell and smart phones on the market today, mobile TV is the fastest growing delivery medium for video and is already a common platform for many viewers.  While broadcasters and other owners of compelling video content deliver via the web, mobile distribution promises substantial revenue growth. With a comprehensive and easy to use set of tools, Vizrt is uniquely positioned in the market to enable broadcasters and others to efficiently distribute to mobile devices."

Trondheim (Norway) based Adactus is a software company offering solutions for delivery and presentation of adapted multimedia for mobile terminals, such as smart phones, tablet PCs and smart TVs. Based on the MPEG-21 standard, the company offers custom designed and easy to use applications that enable content distribution and content gathering for Mobile TV as well as Internet TV. 

The full integration of Adactus solutions into the Vizrt product suite enables content providers to easily manage both mobile distribution and mobile contribution to their existing workflows. With the acquisition of Adactus, Vizrt now offers the only proprietary platform in the marketplace that can produce the required video streams for the various display devices, broadcast, web and mobile, all in one seamless workflow.

Adactus products have been chosen, among others, by organizations such as Turner Broadcasting Systems, Etisalat and BBC World Service, for their live and recorded video streaming and news-gathering operations.

Vizrt's cooperation with Adactus began in October 2005 when the Company made an investment as a commitment to the joint development of a project for a graphics engine for mobile devices. The two companies have maintained a close relationship at both the technical and business levels, which will ensure a smooth integration of the Adactus operations into Vizrt.

 

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 products are used by the world's leading broadcasters and publishing houses, including: CNN, CBS, Fox, the BBC, BSkyB, ITN, Tele5, laSexta, ETB, TV3, Antena3 and FC Barcelona, 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.

 

Investors and media contacts:
 
Martin Burkhalter
CEO
+41 (79) 795 24 48
mbu@vizrt.com
 
Ofra Brown
CFO
+47 5351 8040
ofra@vizrt.com
 
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)