Capitol Multimedia closes acquisition of Animation Magic.BETHESDA, Md.--(BUSINESS WIRE)--Feb. 14, 1995--Capitol Multimedia Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDIM CDIM Clerkship Directors in Internal Medicine CDIM Context-Driven Information Model CDIM Change Delivery & Implementation Manager CDIM Conditioned Di-Phase Modem , CDIMW), a leading developer of CD-based software for consumer and professional markets, headquartered here, today announced that the acquisition of Animation Magic Inc. (AMI) was completed yesterday (Feb. 13, 1995). The company acquired AMI for 703,750 shares of newly issued Capitol Capitol, seat of the U.S. Congress Capitol, seat of the U.S. government at Washington, D.C. It is the city's dominating monument, built on an elevated site that was chosen by George Washington in consultation with Major Pierre L'Enfant. Multimedia Inc. (Capitol) common stock; the transaction will be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The acquisition more than doubles the company's production capability bringing Capitol's total work-force to over 130. Animation Magic is a high-end developer of CD-based software with offices in Cambridge, Mass. and a 100% owned subsidiary located in St. Petersberg, Russia. With 90 employees, including 12 software engineers and approximately 60 highly skilled animators Famous animators no longer living
According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Robert I Robert I, duke of Normandy Robert I (Robert the Magnificent), d. 1035, duke of Normandy (1027–35); father of William the Conqueror. He is often identified with the legendary Robert the Devil. . Bogin, Capitol Multimedia president and chief executive officer, "Our combination with Animation Magic will create a world class production company with the ability to significantly expand its capacity and enhance its exceptional software engineering talent." The two companies are already collaborating to produce a new PC CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). title called Jon Dark-Psychic Eye(TM). According to Bogin, "This title demonstrates the artistic, production, and engineering talent that will be our signature for all future titles." To integrate the development and production activities of both AMI and Capitol as fast as possible, the company has appointed Igor Razboff, former president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Animation Magic Inc. to be responsible for all consumer software development and production activities. According to Bogin, "Razboff has years of experience in the software industry and brings tremendous talent to the management team." Recognizing the growth potential of high quality multimedia software products for the commercial market, the company has appointed John Gray to head the company's commercial products efforts. Gray, who has been instrumental in the growth of both the company's consumer and professional software lines, will focus his talents exclusively on the company's line of commercial software products, especially InfoTravel(TM) (an interactive hotel television multimedia advertising system developed in cooperation with Bell Atlantic Directory Services) and ShowMaster(TM)/ShowBuilder(TM) (a CD based presentation authoring tool). Capitol Multimedia Inc. is an award winning high-end developer and publisher of CD-based interactive multimedia software for consumer and professional markets. The company publishes titles for PC and Macintosh CD-ROM, CD-i, and Sega CD(TM) platforms. CONTACT: Capitol Multimedia Inc. Robert I. Bogin, 301/907-7000 or Equity Communications Ira Weingarten, 805/897-1880 or Marijke van Hooren, +31 30 923 280 (The Netherlands) |
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