08.11.2008 10:13 AM
Scopus to acquire Optibase

Scopus Video Networks, a provider of digital video networking products, has signed a letter of intent to acquire the business of Optibase, which makes streaming solutions for video industry. The all-stock transaction is expected to close in the fourth quarter of 2008.

Optibase, the largest shareholder of Scopus stock (at 36 percent), is based in Herzliya, Israel, and had revenue of approximately $23 million for 2007. Upon completion of the transaction, Optibase will own approximately 46 percent of Scopus’ outstanding shares.

Under terms of the agreement, Scopus will acquire certain assets and liabilities related to the digital video and streaming business of Optibase, in consideration for 2.6 million ordinary shares of Scopus, plus an earn-out of up to 0.9 million additional shares based on the achievement of sales goals.

The proposed transaction is subject to the completion of due diligence, negotiation and execution of definitive agreements and the satisfaction of customary closing conditions, including approval of the respective shareholders of Scopus and Optibase.

Dr. Yaron Simler, CEO of Scopus, said the Optibase’s products extend the breadth of his company’s offering, opening up new markets for Scopus.

For more information, visit www.scopus.net.

Post New Comment
If you are already a member, or would like to receive email alerts as new comments are
made, please login or register.

Enter the code shown above:

(Note: If you cannot read the numbers in the above
image, reload the page to generate a new one.)

No Comments Found

Tuesday 03:07 PM
WMUR-TV Says FAA Drone Rules Preclude ENG
The FAA’s current rules and proposed ban on flight over people, requirement of visual line of sight and restriction on nighttime flying, effectively prohibit broadcasters from using UAS for newsgathering. ~ WMUR-TV General Manager Jeff Bartlett

Featured Articles
Discover TV Technology