Vizrt Acquires LiberoVision
According to the proposed deal, Vizrt Ltd. will purchase all of the issued and outstanding share capital of LiberoVision in three installments: 60% upon signing of the definitive agreement, 20% upon approval of the financial statements of LiberoVision for the year 2011 and 20% upon approval of the financial statements of LiberoVision for the year 2012.
The consideration for the first 60% of the issued share capital of LiberoVision will be approximately $6.12 million and may be increased by an additional $1.02 million should the EBIT for 2010 of LiberoVision exceed $1.02 million.
The consideration for each of the additional 20% of the issued share capital of LiberoVision will be calculated as 20% of 10 times the EBIT for the applicable fiscal year.
LiberoVision offers two product lines. Libero Highlight provides realistic 3D replays that it says are indistinguishable from images produced by on-site television cameras. It enables the broadcaster to move the viewer’s perspective to areas not covered by the in-stadium cameras, such as over-the-shoulder of the quarterback.
Libero Offside was developed for instant offside analysis during soccer games. It is a dedicated application aimed at resolving offsides disputes during soccer games.