Vizrt goes up Down Under
Signed Deals with Network Ten for 6.7 Million US-Dollars
Bergen, Norway, March 6, 2007. Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ) announces today, that the company has signed a deal with Australia's Network TEN to provide a comprehensive Media Asset Management (MAM) system from Vizrt's recently-acquired subsidiary, Ardendo, for a total contract value of USD 5m, to be delivered during 2007 and 2008.
This deal follows fast on the heels of a previous contract with Network TEN for a large Vizrt graphic system signed during Q4 2006, for a total value of USD 1.7m, which is due to be recognized over this year.
Vizrt holds the lead position in the Australian broadcast graphics and MAM market sectors and now has the following major customers in Australia:
Bergen, Norway, March 6, 2007. Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ) announces today, that the company has signed a deal with Australia's Network TEN to provide a comprehensive Media Asset Management (MAM) system from Vizrt's recently-acquired subsidiary, Ardendo, for a total contract value of USD 5m, to be delivered during 2007 and 2008.
This deal follows fast on the heels of a previous contract with Network TEN for a large Vizrt graphic system signed during Q4 2006, for a total value of USD 1.7m, which is due to be recognized over this year.
Vizrt holds the lead position in the Australian broadcast graphics and MAM market sectors and now has the following major customers in Australia:
- Network TEN: graphics & MAM
- ABC - Australia's national broadcaster: video archive
- Channel 7: graphics
- Channel 9: graphics
- Sky Channel: MAM
- Premier Media Group: MAM
The strategic acquisition of the leading MAM (video storage) and electronic map software providers by Vizrt over the last years is already paying dividends as broadcasters like TEN realize the benefits of investing in a fully-integrated system from a single supplier.
Because of the increased demand for MAM products and services in the region, Vizrt will expand its Sydney operation which also supports New Zealand. The situation in Australia is not unique. The company expects a similar surge in demand globally and is taking measures to expand implementation staff numbers in many of the company's locations.
It usually takes between two and four quarters to realize the benefits of new services resources. Hence, this decision may have a slight short-term effect on the company's EBIT performance for the next two quarters.
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, 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
Press contacts:
Ofra Brown
CFO
+47 2169 2790
ofra@vizrt.com
Kathrine Wallace
+47 9171 4545
kwa@vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com
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.
Because of the increased demand for MAM products and services in the region, Vizrt will expand its Sydney operation which also supports New Zealand. The situation in Australia is not unique. The company expects a similar surge in demand globally and is taking measures to expand implementation staff numbers in many of the company's locations.
It usually takes between two and four quarters to realize the benefits of new services resources. Hence, this decision may have a slight short-term effect on the company's EBIT performance for the next two quarters.
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, 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
Press contacts:
Ofra Brown
CFO
+47 2169 2790
ofra@vizrt.com
Kathrine Wallace
+47 9171 4545
kwa@vizrt.com
SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com
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.