Content production tool developer for the digital media industry Vizrt Ltd. (XETRA: VIZ; OBX:VIZ) is acquire LiberoVision, a Swiss-based provider of technologies for virtual sports enhancements for $6.1 million.
The deal comes less than a month after Vizrt, which has an Israeli R&D center, acquired a 20% stake in Israeli start-up Stergen H-Tech Ltd., which develops 3D video conversion software.
LiberoVision offers two product lines: Libero Highlight provides realistic 3D replays, while Libero Offside provides instant analysis during soccer games.
Vizrt will pay 6 million Swiss francs ($6.12 million) for 60% of LiberoVision shares, an amount that could rise by 1 million Swiss francs ($1.02 million) if LiberoVision's earnings before interest and taxes exceed 1 million Swiss francs ($1.02) during 2010. The other 20% payments will be calculated as 20% of ten times LiberoVision's EBIT for the financial year. All installments shall consist of 80% cash and 20% Vizrt shares.
Published by Globes, Israel business news - www.globes-online.com - on November 21, 2010
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