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Optibase Announces Integration of Media 100 (26/7/2004)
Optibase Ltd. (NASDAQ: OBAS), a leader in digital video solutions, today announced that following the completion of the purchase of Media 100's assets, it has integrated Media 100's business activity into its corporate structure as an integral business unit. The new structure will allow the Media 100 unit to benefit from Optibase's worldwide presence and sound financial position.
Amir Goren, who until recently served as vice president marketing and business development at Optibase, has been appointed general manager of the Media 100 activity. Mr. Goren will be based at Optibase's offices located in the former Media 100's facilities in Marlboro, Massachusetts and will be responsible for increasing the sales of the business unit by strengthening its product offerings, sales channels and customer relations. Mr. Goren joins Mike Savello, Giles Rae and Rick Keilty, former employees of Media 100, to form an experienced executive team. In looking to strengthen Media 100's business, the Company stated that it plans to invest considerable resources in R&D, sales and marketing, underscoring its belief that the addition of Media 100 products to its arsenal offers an opportunity to increase revenues.
"Optibase is intent on regaining Media 100's position as a leading provider of best in class, professional editing and compositing solutions," said Danny Lustiger, Optibase's President and CFO. "To this end, while we plan to invest resources that might reduce our profitability in the short term, we believe that such expenditures will enable Optibase to emerge as a leading player in the post production and content creation markets. Media 100 established an excellent brand in these markets. Its commonalities with Optibase include its professional hardware and software that enjoy high credibility among industry leaders. We plan to leverage this credibility in order to reach a position of leadership."
He continued, "The technology that powers products like 844/X and Media 100 HD is a great asset to Optibase. 844/X is the industry's only real time online, vertical editing system that enables content designers to channel their resources solely on creativity, while being assured of a top quality workflow. 844/X has already been installed in hundreds of production sites and the next release, which will be announced shortly, reaffirms our belief in the bright future of the product. The product targets professionals, from independents to large broadcasters and post-production facilities, as well as advanced corporate, educational, and institutional media departments. These are some of the markets that Optibase already targets for encoding and streaming applications and we believe that customers of both Media 100 and Optibase products will benefit from these product synergies."
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