Vizrt acquires Mosart Medialab6 March 2014
Vizrt has reached a share purchase agreements with the shareholders of Mosart Medialab. The agreement with shareholders TV2 Gruppen, Mads Grønbæk John Kjellevold and Morten Larsen is for the acquisition of all issued and outstanding share capital of Mosart. Vizrt will purchase the share capital of Mosart for NOK106.2 million (approximately $17.7million).
Vizrt hopes to realise a number of important synergies through the acquisition, both technologically and commercially. In addition to the advantages of integrating Mosart’s system with its own workflow, BG and MAM solutions, management believes Vizrt will be able to develop solutions for the media industry, such as a TV-in-a-box system. The company’s management also anticipates being able to accelerate business development in using Vizrt’s global sales and support organisation.
As part of the transaction, TV2 Gruppen, which holds 77.2% of Mosart’s share capital, shall continue to be granted a license for Mosart’s software, free of charge, in accordance with the current annual license fee charged by the company.
The board of directors of Mosart consists of Øivind Sørbø Johannessen (chairman) and Mads Kristian Grønbæk, with John Kjellevold as Mosart’s managing director. The company currently has 24 employees.
“This acquisition is an important step in our strategy to continuously strengthen Vizrt’s leadership position in the broadcast technology industry,” stated Martin Burkhalter (pictured), CEO of Vizrt. “With the addition of Mosart’s competence in studio production automation, we expand our already comprehensive workflow offering into an important and growing segment of the broadcast industry. The combination will allow for important and disruptive innovation, and allow Vizrt to address new markets, generate future growth and create value.”