Oslo, Norway, Vizrt Ltd. (Oslo Main List: VIZ)
Vizrt, a leading provider of content production tools for the digital media industry, announced today that it has entered into a terms sheet with Swiss company LiberoVision AG, a leader in the field of virtual sports enhancements.
According to the proposed terms sheet, Vizrt Ltd. shall 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 shall be CHF 6 million (approx. USD 6.12 million) and may be increased by an additional 1 CHF million (approx. USD 1.02 million) should the EBIT for the year 2010 of LiberoVision more