Optibase Announces Sale of Non Linear Editing Product Line; 2 Million Dollar Framework Agreement Signed Between Optibase and Boris FX.HERZLIYA, Israel -- Optibase, Ltd. (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 :OBAS OBAS Ofotbanen AS (Norwegian) OBAS Optical Bench Alignment System OBAS On-Board ATM-Switched (communication satellite protocol type) ) a leading provider of advanced digital video solutions today announced that it has entered a definitive agreement with Boris FX, a leading developer of integrated effects technology for video and film production, for the sale of non linear editing See linear video 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. Uzi Breier, 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. 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 (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. market that we believe poses to Optibase a greater opportunity to grow our business." About Optibase Optibase, Ltd. (NASDAQ:OBAS) provides professional encoding, decoding, video server upload and streaming solutions for telecom operators, service providers, broadcasters and content creators. The company's platforms enable the creation, broadband streaming and playback of high quality digital video. Optibase's breadth of product offerings are used in applications, such as: video over DSL/Fiber networks, post production for the broadcast and cables industries, archiving; high-end surveillance, distance learning; and business television. Headquartered in Israel, Optibase operates through its fully owned subsidiary in Mountain View, California For the census-designated place, see Mountain View, Contra Costa County, California. For other places called "Mountain View", see . Mountain View is a city in Santa Clara County, in the U.S. state of California. The city gets its name from the views of the Santa Cruz Mountains. and offices in Japan, China and Singapore. Optibase products are marketed in over 40 countries through a combination of direct sales, independent distributors, system integrators and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and partners. For further information, please visit www.optibase.com. About Boris FX Founded in 1995 in Boston MA, Boris FX is the leading developer of integrated graphics Refers to having the video display circuitry of a computer contained directly on the motherboard rather than on a separate plug-in card (the display adapter). Integrated graphics typically share memory with the CPU (see shared video memory) and provide a more economical alternative to the and effects technology, delivering 3D compositing and vector graphic products for the broadcast, post production, film and multi-media industries. Since the company's inception, Boris products have grown to serve over 200,000 artists worldwide. A great part of its success lies in the ability to tightly integrate and leverage technologies through strong partnerships with industry-leading manufacturers including Adobe(R), Apple(R), Avid(R), Canopus(R), Discreet(R), eyeon(R), in-sync(R), Incite(R), Leitch(R), Matrox(R), Media 100(R), Quantel(R), Sony Pictures Digital Sony Pictures Digital, first known as Columbia TriStar Interactive, then Sony Pictures Interactive Network (or SPiN), is known as the digital website interactive creator for Sony Pictures Entertainment (SPE) that was established in 1997. (R), and Ulead(R). For details, visit www.borisfx.com. This press release contains forward-looking statements concerning our marketing and operations plans, including possible revenue from future sales by Boris FX, a third party over which Optibase has no control. No guarantee may be made that Optibase will derive any revenue from the arrangement unless such future sales take place. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations and estimates, which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, risks related to the evolving market for digital video in general and the infancy of the IPTV market in particular, competition, our ability to manage growth and expansion, general economic conditions and other risk factors. For a more detailed discussion of these and other risks that may cause actual results to differ from the forward looking statements in this news release, please refer to Optibase's most recent annual report on Form 20-F. The Company does not undertake any obligation to update forward-looking statements made herein. This release and prior releases are available on the Company's Web site at www.optibase.com. This release and prior releases are also available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Worldwide Web site at www.kcsa.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion