Optibase agrees to buy Media 100 assets
March 12, 2004
Operating as a subsidiary of Optibase, Media 100 will continue to develop products such as the Media 100i and Media 100 HD system. Click here to view an enlarged diagram.
Pending bankruptcy court approval, Optibase, a provider of digital video encoding and streaming products, has agreed to purchase the assets of digital edit system developer Media 100 for approximately $2.5 million. Optibase said it also would provide up to $1 million to enable Media 100 to meet its commitments to its employees and fund vendor obligations. If the sale is rejected, Media 100 said it would cease operations.
Both companies said the transaction will allow Media 100, based in Marlboro, Mass., to continue to develop, sell and support its 844/X editing-compositing systems, newly-introduced Media 100 HD system, Media 100i, and other content design products. An Optibase spokesman said it’s too early to say how the technology would be used in other Optibase products, but some amount of integration is certain.
For more information visit www.media100.com and www.optibase.com.
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