Vizrt provides financial graphics for new Middle East Business Channel
Vizrt Ltd., the world’s leading real-time 3D graphics software company, has secured late 2005 a half-million US-Dollar contract to provide a broad range of its graphics products to a new Arabic Business TV Channel.
Bergen, Norway, February 2, 2006. Vizrt Ltd. (Frankfurt Prime Standard, Oslo Main List: VIZ), the world’s leading real-time 3D graphics software company, has secured late 2005 a half-million US-Dollar contract to provide a broad range of its graphics products to a new Arabic Business TV Channel. Reported to be worth up to Dirham 100 million, the channel is a combination of UAE and Saudi Arabian investments and will be operating from Dubai Media City (DMC) and uplinking to a satellite from Riyadh. The channel has already opened a number of offices in major Arab capitals and is expected to become a 24-hour network in 2006.
The as yet un-named channel will target a GCC audience with a focus on stocks and the property markets. The channel also aims to take on a significant amount of the Gulf’s advertising market, which topped USD 2.7 billion in 2004.
The vibrant economies of the Middle East region have fuelled the launch of 45 new free-to-air satellite TV channels in the past five months, bringing the region’s total to 200 stations. Interest in business programming has also increased considerably in the past few years.
By the end of 2010, around 41 million multi-channel television homes are projected for the Middle East and North Africa, with 68% of homes connected to cable and satellite television, according to industry analysts.
Vizrt established an office in Dubai close to DMC two years ago and has experienced unprecedented levels of business from both the new and established channels in the region. The company currently provides graphics systems to sixteen Middle Eastern channels, eight of which signed up to Vizrt in the past year. These new channels include Al Jazeera (Satellite, Sports and International), Sharjah TV, ART Sports, Ten Sports, Dubai TV Sports and Al Eqtisadia.
Vizrt is the world’s leading provider of HD/SD real-time 2D and true 3D broadcast graphics. The company’s software suite offers a complete graphics solution including: character generation, content management and newsroom integration, 3D tickers, virtual studio, 3D weather application with data integration, Curious Software map creation tools, virtual sports analysis, information display and virtual effects. All Vizrt’s graphics products are powered by a single core renderer, the unique and powerful Viz|Engine™. Vizrt’s graphics solution goes beyond the visual aspect and includes highly customized user interfaces for the designer, operator, journalist and engineer. The world’s leading broadcasters, such as CNN, CBS, Fox, BBC, Sky, ITN, ZDF, Star TV, TV Today, CCTV and NHK as well as Production houses and Corporate institutions, including both the New York and London Stock Exchange, use the Vizrt’s software suite. Vizrt is a public company traded on the Frankfurt Prime Standard and on the Oslo Main List: VIZ, ISIN: IL0010838154. For further information please refer to www.vizrt.com
Forward looking statements
This press release contains forward-looking statements with respect to the business, financial condition and results of operations of VIZRT and its affiliates and Ardendo AB and its affiliates. These statements are based on the current expectations or beliefs of VIZRT’s management and Ardendo AB’s management and are subject to a number of risks and uncertainties that could cause actual results or performance of the both Companies to differ materially from those contemplated in such forward-looking statements. These risks and uncertainties relate to changes in technology and market requirements, both companies concentration on one industry, decline in demand for both companies products and those of its affiliates, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of both companies to differ materially from those contemplated in such forward-looking statements. VIZRT and Ardendo undertake no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
- Contact Information
- Bjarne Berg
- President CEO
- Vizrt Ltd.
- Contact via E-mail
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