Vizrt Ltd. announces, that Vizrt Ltd. and Escenic AS, Oslo, have today entered into a letter of intent with the intention to combine the two companies to create a strong player in the content management market. The letter of intent states that the board of the two companies shall seek to agree on a merger or acquisition agreement.
Escenic is a leading provider of strategic solutions for Content Management and publishing of content to all forms of digital media. Escenic’s flagship product, Escenic Content Engine, has been chosen to power over 500 websites in 14 countries including leading media, news providers, government and corporate sites. During the first nine months of 2007 Escenic had total sales of NOK 33M (USD 6.1M).
Vizrt announced its financial results for the first nine months of 2007 with record revenue reaching USD 62.4M compared to revenues of USD 44.4M for nine months 2006. Revenue increased by 40%. All major regions attributed to the strong revenue growth.