TV Graphics’ Vizrt Buys CMS Maker For £17 Million For News Video Publishing
By Robert Andrews - Thu 03 Apr 2008 02:48 AM PST
Norwegian TV graphics company Vizrt has signed an agreement to buy Oslo-based content management system maker Escenic. Vizrt (FRA: VIZ), whose 1,500 clients include CNN International and the BBC, said the integration, which has already begun, will allow journalists and editors to add video assets to web stories directly from Escenic’s CMS products. Escenic CEO Øyvind Ørbæk: “Our customers are increasingly developing their video and TV presence for online and mobile applications. Many of our newspaper customers are planning to set up TV studios to create their own TV and video content. Escenic, with 71 employees, did 44.1 million krona (£4.33 million) revenue in 2007, opening offices in Sweden, Germany, Bangladesh and USA. The price for Escenic is six million shares in Vizrt - making the deal worth 173.4 million krona (£17 million)
Posted in: Countries, Europe, Media, TV, IPTV, Money, M&A, Norway






