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Streaming Video Firm Optibase to Acquire Media 100 Assets for $2.5 Million

Authored by Mark Hefflinger on March 23, 2004 - 4:22am.
Marlboro, Mass. -- Optibase, a provider of streaming video technology based in Israel, has agreed to acquire the assets of Massachusetts-based Media 100, a developer of advanced media systems for content design, which is in Chapter 11 bankruptcy. Under the acquisition agreement, which is subject to court approval, Optibase will acquire substantially all the assets of Media 100 for $2.5 million, as well as provide up to $1 million of secured financing. "Following approval by the Court, Optibase intends to keep Media 100 activity intact as a unit in Optibase in order to continue the development, sales, and support of the Media 100 products," said Tom Wyler, CEO of Optibase, which is a Nasdaq-listed company.
http://biz.yahoo.com/bw/040322/225485_1.html 
http://www.media100.com 
http://www.optibase.com
tags: Streaming Video | Media | Optibase | Assets |



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