Vizrt has signed a letter of intent to acquire all outstanding shares of Ardendo of Sweden for $23 million.
The deal is due to be closed no later than April 30, 2006, and is subject to due diligence and approval by the boards of both companies.
Ardendo, a media management company, is expected to help Vizrt by allowing the company to address the complete broadcast production process from ingest to visualization.
Ardendo offers expertise in ingest, archiving, editing, transcoding, playout and newsroom components. According to Vizrt, the company plans to marry these strengths with Vizrt’s real-time graphics components, mobile distribution and mobile (Viz|3G) visualization tools. The goal is to allow a media company to create once, use many times and distribute everywhere. In other words, give broadcasters a means to acquire, store, edit and retrieve content, as well as use it for SD, HD, cell phone, Web, interactive TV and podcast distribution avenues.