Pinnacle Systems has acquired VOB Computersysteme, a privately held company based in Dortmund, Germany, that specializes in writable CD and DVD products and technology.
The deal is said to be worth $7 million, including $4 million in cash and the issuance of $3 million worth of Pinnacle Systems common stock. Under terms agreed to by both companies, Pinnacle Systems acquired all intellectual property, products and software rights, along with all other company assets and liabilities. VOB Computersysteme will be merged into the Pinnacle Systems Business and Consumer division.
Pinnacle said it plans to combine VOB Computersysteme's writable CD and DVD technology with its DVD and consumer video authoring solutions to enable the recording of data, music and video to both CDs and DVDs.
For more information, visit www.pinnaclesys.com.