Optibase Completes Media 100 Asset Acquisition
June 02, 2004
Herzliya, Isreal and Marlboro, MA - Optibase Ltd. has completed the purchase of substantially all of the assets of Media 100 Inc., following a favorable judgment from the United States Bankruptcy Court for the District of Massachusetts, for $2.5 million (less the amount of any funding advanced), as first reported on Weva.com Industry News March 22, 2004. (Click for original announcement)
With the addition of Media 100’s 844/X, Media 100 HD, Media 100 i and other content design products to the Company’s product portfolio, Optibase now offers a broader selection of high quality professional video products, from digital editing and compositing to encoding and delivery.
Commenting on the transaction, Tom Wyler, Chairman and CEO of Optibase said, “We are extremely excited to complete this asset acquisition and add Media 100’s products and technology to our industry leading product family. For years, Optibase has been at the forefront of digital video technology, continuously pushing the envelope of video-based applications. The Media 100 acquisition will allow us to leverage our experience in digital video to add editing and compositing solutions to our already wide range of applications. In addition to expanding our product line and adding new customers and channel partners, we are taking on close to 40 highly skilled engineers as well as dedicated sales and marketing professionals who we believe will play a key role in Optibase’s performance in the years to come.”
For more information, visit
www.optibase.com
or
www.media100.com
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Optibase and Media 100 announcements contains forward-looking statements concerning marketing and operations plans. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this announcement are made based on management's current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, risks related to the evolving market for digital video, competition, our ability to manage growth and expansion, general economic conditions and other risk factors. For a more detailed discussion of these and other risks that may cause actual results to differ from the forward looking statements in this news release, please refer to Optibase’s most recent annual report on Form 20-F, its Registration Statement on Form F-1 filed with the United States Securities and Exchange Commission and other filings with the SEC. The Company does not undertake any obligation to update forward-looking statements made herein. |
