Vizrt has bought the 71% of Adactus it did not already own for $3.6 million.
Vizrt Prime Standard: VIZ; OBX:VIZ) has bought the remaining 71% of Norwegian company Adactus, of which it already owned 29%.
Vizrt, which develops content production tools for the digital media industry, bought its 29% stake in Adactus for almost $800,000 four and a half years ago. It has now bought the other 79% for $3.6 million, at a valuation for the company of $5.1 million.
Adactus has developed a platform for transmitting multi-media content to mobile devices. It employs eleven people. Its main customers are content providers such as television stations, among them US company Turner Broadcasting System, Inc. and Norway's NRK.
Vizrt has a market cap of $231 million, after a 24% rise in its share price in the past year.
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2010
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