Optibase sells Media100 division to Boris FX

Optibase today announced that it will sell its Media 100 division to Boris FX, a leading developer of integrated effects technology for video and film production. In an effort to focus on the IPTV market, Optibase says it has a signed a definitive agreement for the sale of its non linear editing product line, including all service, warranty and maintenance obligations. Under the terms of the agreement Optibase and Boris FX will share revenues derived from any future sales of these products and services of up to $2 million (2,000,000) and Optibase will supply Boris FX with manufacturing services for the Media 100 HD boards. In June of last year, Optibase completed its $2.5 million purchase of Media 100 and then sold Final Effects Complete to Boris FX in June 2005.

Uzi Breier, CEO of Optibase said, "It gives me pleasure to announce the cooperation with Boris FX. Boris has a track record of success in the non linear editing market and it is our belief that it will serve our customers in this segment well. "Furthermore," he added, "this agreement will allow us to focus on the IPTV market that we believe poses to Optibase a greater opportunity to grow our business."

Filed under: software
Other story tags: video editing