Optibase completes acquisition of Media 100 assets

Optibase has, following a favourable judgment from the United States Bankruptcy Court for the District of Massachusetts, completed the purchase of substantially all of the assets of Media 100 Inc. for $2.5 million (less the amount of any funding advanced).
With the addition of Media 100's 844/X, Media 100 HD, Media 100 i and other content design products to the company's product portfolio, Optibase now offers a broader selection of high quality professional video products, from digital editing and compositing to encoding and delivery.
Commenting on the transaction, Tom Wyler, Chairman and CEO of Optibase, said: "We are extremely excited to complete this asset acquisition and add Media 100's products and technology to our industry leading product family. For years, Optibase has been at the forefront of digital video technology, continuously pushing the envelope of video-based applications. The Media 100 acquisition will allow us to leverage our experience in digital video to add editing and compositing solutions to our already wide range of applications. In addition to expanding our product line and adding new customers and channel partners, we are taking on close to 40 highly skilled engineers as well as dedicated sales and marketing professionals who we believe will play a key role in Optibase's performance in the years to come."
(GB)