Vizrt has entered into a nonbinding term sheet with TV Gruppen to acquire all the issued shares of its subsidiary Mosart Medialab.
If completed, the acquisition would add the Mosart automation system to Vizrt’s product portfolio, which includes a wide array of graphics and asset management tools for the broadcast industry.
Vizrt CEO Martin Burkhalter explained in a statement that "Mosart's technology is a perfect complement to our smart workflow solutions, and it will enhance our offering to broadcasters on a global scale.”
“Mosart technology brings unique functionality to Vizrt's offering of workflow solutions, and our products already are very well integrated, thanks to past collaborative work to meet the specific requirements of our shared customers," added John Kjellevold, managing director at Mosart Medialab. "Going forward as part of Vizrt, Mosart will gain the benefit of Vizrt's extensive international sales and support organization, as well as its strong reputation and its brand recognition. This will allow us to strengthen the value of Mosart automation for users in a broader range of markets."
Terms of the proposed acquisition were not revealed.