Vizrt closes third tranche of LiberoVision AG acquisition
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:
President & CEO
+41 22 365 75 01
+47 5351 8040
SCHWARZ Financial Communication
+49 611 1745 398 11
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.