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Vizrt closes third tranche of LiberoVision AG acquisition

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February 27, 2013 - London

Bergen, Norway, February 27, 2013. Vizrt Ltd. (Oslo Main List: VIZ)

Further to the successful closing of the first and second tranches of the acquisition of LiberoVision AG in July 2011 and March 2012, Vizrt announced today that on February 26, 2013, pursuant to the Share Purchase Agreement, it has closed the third and final tranche of the acquisition of LiberoVision AG (LV), a leader in the field of virtual sports enhancements.

The consideration for the third tranche is calculated as 20% of ten times the EBIT for 2012. Based on LV financial results for 2012, the consideration to be paid is CHF 2,219,864 (approx. MUSD 2.4). Following the closing, Vizrt holds 100% of the outstanding share capital of LiberoVision AG.

All installments consist of 80% cash and 20% Vizrt Ltd. shares. This means that the cash consideration for the third tranche is CHF 1,775,891.2 (approx. MUSD 1.9). The remaining 20% will consist of 135,908 shares of Vizrt Ltd. Consequently the number of shares outstanding is 66.955,763.

Total consideration paid in cash and shares for the purchase of LiberoVision AG is MUSD 10.4

Investors and media contacts:

 

Martin Burkhalter
President & CEO
+41 22 365 75 01
mbu@vizrt.com

Tomer Wald

CFO
+47 5351 8040
twald@vizrt.com

SCHWARZ Financial Communication
Frank Schwarz
+49 611 1745 398 11
schwarz@schwarzfinancial.com

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, ZDF, Star TV, Network 18, TV Today, CCTV, NHK, 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. 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
 
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Vizrt Ltd. via Thomson Reuters ONE
HUG#1681237

Thomson Reuters

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