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Orad Takes 63 Percent of IBIS for US$2.1 Million

KFAR SABA, ISRAEL: Graphics specialist Orad Hi-Tec Systems Ltd. announced the signing of an investment agreement for 63.38 percent of Integrated Broadcast Information Systems Limited. As part of the deal, Orad will invest US$2.11million in cash with an option to increase its holdings to 100 percent within the next 54 months. Future investment price is dependent on the future revenues and net profits. Completion of the transaction is expected within the next three months.

IBIS was established in 1991 and specializes in media asset management for fast turn-around file based workflows in sports and news. Its flagship product is the IBIS iFind suite of browser-based media-asset management applications.

IBIS headquarters are in Shepton Mallet, England, with support operations in North America and Asia. Some of IBIS’s customers include ESPN Star Sports, the BBC and the Irish Parliament, Dublin.