Vizrt has completed its financial and legal due diligence and has reached a definitive share purchase agreement with the shareholders of Mosart Medialab. The agreement with shareholders – TV2 Gruppen AS, Mads Grønbæk John Kjellevold and Morten Larsen – is for the acquisition of all the issued and outstanding share capital of Mosart, a provider of newscast automation solutions.
As a result of the agreement, Vizrt shall purchase all of the issued and outstanding share capital of Mosart, on a fully diluted basis, for a cash consideration of NOK 106.2 million ($17.7 million) – on a cash and interest bearing debt free basis.
Vizrt anticipates the acquisition of Mosart to close by March 11th.
“This acquisition is an important step in our strategy to continuously strengthen Vizrt’s leadership position in the broadcast technology industry,” stated Martin Burkhalter, CEO of Vizrt. “With the addition of Mosart’s competence in value studio production automation, we expand our already comprehensive workflow offering into an important and growing segment of the broadcast industry. We expect to realize important synergies from this acquisition, both in terms of innovation and in terms of our ability to grow our business. The combination will allow for important and disruptive innovation, and allow Vizrt to address new markets, generate future growth and create.”