View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
July 24, 1997updated 05 Sep 2016 12:25pm

PINNACLE SPENDS $21M ON GERMANY’S MIRO COMPUTER

By CBR Staff Writer

Pinnacle Systems Inc has signed a letter of intent to acquire Miro Computer Products AG’s Digital Video Products Group in a deal estimated at $21m. The Mountain View, California-based company that recently reported nine month net losses of $10.1m from profits of $4.8m at the same time last year (CI No 3,157) will acquire the assets of the German company’s division which provides desktop video cards for non-linear editing applications and incorporate CODEC advanced video compression technology. Real-time three dimensional special effects and video processing technology supplier Pinnacle, says Miro is one of the few companies that has CODEC products that are compatible with new Digital Video recording formats. Pinnacle believes the combination of both companies’ technology will help boost its ambitions in the booming desktop video market. Miro reported revenue of $35m for the year to June 30. The deal is expected to be completed within the next few weeks and to close by the end of September. Pinnacle will pay some $15m in cash, $5m in shares and assume liabilities of around $1m. It also expects to have to pay around $1m in costs associated with the transaction and integration of the businesses.

Content from our partners
Green for go: Transforming trade in the UK
Manufacturers are switching to personalised customer experience amid fierce competition
How many ends in end-to-end service orchestration?

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU