Scopus Video Networks has entered into a nonbinding term sheet to acquire the business of Optibase, its principal shareholder.
Optibase, based in Herzliya, Israel, provides professional encoding, decoding, video server upload and streaming solutions for telecom operators, service providers, broadcasters and content creators. According to its audited financial statements, Optibase reported revenue of about $23 million for 2007.
Scopus will acquire certain assets and liabilities related to the digital video and streaming business of Optibase for 2.6 million ordinary shares of Scopus and an earnout of up to 0.9 million additional shares based on sales performance.
See Scopus at IBC2008 Stand 1.B49, or visit www.scopus.net.