Vizrt said that it has acquired an additional twenty percent of LiberoVision, bringing its ownership stake in the of sports replay provider to 80%.
Vizrt first announced its intention to buy LiberoVision in November of 2010, saying at the time that it would purchase the company in three tranches. In July of 2011 Vizrt completed the purchase of the first tranche of shares when it paid CHF 6 million (~$6.6m at the time) for 60% of LiberoVision.
The company is now paying CHF 242,556 (~$200,000) for an additional 20% of LiberoVision, which represents 20% of ten times LiberoVision’s EBIT for 2011. The remaining 20% of LiberoVision will be acquired next year based on the same EBIT calculation.
As part of the transaction, the founders of LiberoVision are committed to continue their employment with LiberoVision for a period of at least two years from the date of the original acquisition.
Vizrt financed the deal with 80% cash and 20% Vizrt shares.
Press Release: Vizrt Signs Definitive Share Purchase Agreement in LiberoVision Acquisition
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