Chyron Acquires Axis Graphics
January 18, 2008
Chyron this week has acquired Axis Graphics a Web-based graphics system for online graphics production. Concurrently, Chyron has launched Chyron Online, which is described as "an array of Web-based services customized to each client's unique brand."
Chyron Online's services include 3D charts and graphics, real-time weather displays, financial information and maps. The company lists more than 150 television stations as clients for the new operation.
"The acquisition of Axis Graphics will enhance Chyron's business around the world," said Michael Wellesley-Wesley, Chyron CEO. "Not only does the Axis technology integrate with our popular broadcast products, it instantly expands our reach to include nonbroadcast clients like newspapers, radio stations, mobile phone and digital media producers and anyone producing content for the Internet."
Wellesley-Wesley said that he believed that the event would be remembered as a "major milestone" in the development of graphics creation and workflow operations. He cited the Axis acquisition as a means of addressing an array of new global markets.
As part of the deal, Chyron has acquired Axis Graphics assets and liabilities for $3 million, with $1 million of this in cash, an additional $1 million in restricted common stock and a $1 million debenture that's due at the end of 2008.