BERGEN, Norway -- 13 November 2013 -- Mosart Medialab today announced that its parent company, TV 2 Gruppen AS, has entered into an indicative nonbinding term sheet with Vizrt Ltd., a provider of real-time 3D graphics and asset management tools to the broadcast industry, by which Vizrt will acquire all issued shares of Mosart. The acquisition will bring the Mosart(R) automation system, which simplifies the many control tasks within the news production chain, into the Vizrt product portfolio.
"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, managing director at Mosart Medialab. "Going forward as part of Vizrt, Mosart will gain the benefit of Vizrt's extensive international sales and support organization, as well as its strong reputation and its brand recognition. This will allow us to strengthen the value of Mosart automation for users in a broader range of markets."
Mosart automation enables just a few operators to master complex productions using an intuitive 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 unpredictable breaking news events.
"I am excited about the possibilities this proposed transaction can bring to Vizrt and our customers," said Vizrt CEO Martin Burkhalter. "Mosart's technology is a perfect complement to our smart workflow solutions, and it will enhance our offering to broadcasters on a global scale. 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."
"Mosart's technology will enable us to simplify content production for our current and future customers," said Vizrt Chief Technology Officer Petter Ole Jakobsen. "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. Integrating Mosart's technology with Viz Engine, for instance, would offer the market a very powerful and efficient TV-in-a-box solution."
Further information about Mosart Medialab and its products is available at www.mosart.no or by phone at +47 55 90 80 70. Information about Vizrt is available at www.vizrt.com.
Photo Link:www.wallstcom.com/Mosart/JohnKjellevold2013.zip
Photo Caption: John Kjellevold, Mosart Medialab Managing Director
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About Mosart Medialab
Mosart Medialab (www.mosart.no) develops and markets the Mosart(R) automation system for news, sports, weather, and live broadcasting applications. As part of the cluster of technology spin-offs originating from TV 2 Norway, including Vizrt, StormGeo, Vimond, and Wolftech, Mosart Medialab was conceived in 2002 by professional news directors, producers, and editors. Mosart automation has been continuously developed since that time, meeting the highest demands of live production and becoming the only fully open system in its class. Mosart is used by major broadcasters for prime-time shows and 24/7 news and sport operations, and it has become Europe's market leader in studio automation. ARD, BBC, CME, DR, Global TV, Al-Jazeera, N24, NRK, SKY, SVT, TV2 Denmark, TV5 Monde, and YLE are a few of its customers. Mosart Medialab today operates from Norway, the United States, and Australia.
