TV 2 Gruppen AS, parent company of Mosart Medialab has entered into a nonbinding term sheet with Vizrt, by which Vizrt will acquire all issued shares of Mosart. The acquisition will bring the Mosart automation system, which aims to simplify control tasks within the news production chain, into the Vizrt product portfolio.
Mosart automation enables operators to master productions using a software interface. The Mosart system takes input from the newsroom computer system, controls systems and devices, and allows the operator to maintain control of both regular broadcasts and breaking news events.
"Mosart technology brings unique functionality to Vizrt's offering of workflow solutions, and our products already are very well integrated, thanks to past collaborative work to meet the specific requirements of our shared customers," said John Kjellevold (pictured), managing director at Mosart Medialab. "Going forward as part of Vizrt, Mosart will gain the benefit of Vizrt's extensive international sales and support organisation, as well as its strong reputation and its brand recognition."
"I am excited about the possibilities this proposed transaction can bring to Vizrt and our customers," said Vizrt CEO Martin Burkhalter. "Vizrt continues to innovate, and with this acquisition we further strengthen our position as the dominant player in the broadcast software market. This transaction makes sense for us both strategically and financially. Mosart has shown strong growth, and we expect our due diligence to show the acquisition will be accretive."
Vizrt CTO Petter Ole Jakobsen added: "Mosart's technology will enable us to simplify content production for our current and future customers. The proposed joining of forces will not just add products to our portfolio, but also will enable us to develop new integrated products and workflows that have the potential of being highly disruptive for the broadcast technology market.”