Vizrt signs USD 1 million rental deal with a U.S. sports network
Bergen, Norway, October 15, 2014, Vizrt Ltd. (Oslo Main List: VIZ)
Vizrt Ltd. announced today a deal worth USD 1 million over a two-year term for the implementation of sports analysis tools with a sports network in the United States. The revenue will be recognized over the rental period.
The sports network is renewing the rental of several Viz Libero systems and adding a few additional systems to use for live coverage, as well as highlights of various professional and collegiate sports. Viz Libero is Vizrt’s sports analysis and replay system.
“Sports production is a rapidly changing market and our rental model allows broadcasters to constantly use the latest technology for their seasonal sports coverage,” said Martin Burkhalter, Vizrt CEO. “Viz Libero has ever expanding capabilities that are letting broadcasters create content to tell interesting and detailed stories of what happened on the pitch, and thereby improve the viewer experience dramatically.”
Investor and media contact:
Martin Burkhalter / CEO / +41 22 365 75 01 / MBurkhalter@vizrt.com
Tomer Wald / CFO / +44 20 3289 6415 / TWald@vizrt.com
Frank Schwarz / Schwarz Financial Communication / +49 611 1745 398 11 / schwarz@schwarzfinancial.com
About Vizrt:
Vizrt provides real-time 3D graphics, studio automation, sports analysis and asset management tools for the broadcast industry - interactive and virtual solutions, animations, maps, weather, video editing and compositing tools. Vizrt's products are used by the world's leading broadcasters, including: CNN, CBS, Fox, the BBC, BSkyB, Al Jazeera, ITN, ZDF, Star TV, Network 18, TV Today, CCTV, and NHK. 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. For further information please refer to www.vizrt.com
Copyright © Vizrt. All rights reserved. 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.