Chyron enhances online graphics presence with acquisition of AXIS Graphics
Chyron has launched Chyron Online following the acquisition of AXIS Graphics in a move designed to advance the ability ofusers to create graphics for digital video and the Internet with the launch of Chyron Online. AXIS Graphics is web-based graphics system that has pioneered online graphics production.
Under the asset purchase agreement, Chyron acquired assets and liabilities of AXIS Graphics for an aggregate consideration of $3 million consisting of $1 million cash, $1 million worth of restricted common stock resulting in the issuance of 195,313 shares, and a $1 million debenture due December 31, 2008.
“Chyron Online now significantly expands Chyron’s core addressable markets beyond the traditional broadcast arena, to include websites, newspapers, radio stations, mobile phones and digital signage globally,” says Chyron CEO Michael Wellesley-Wesley.
Chyron Online will provide an array of Web-based services customized to each client’s unique brand – a technology unavailable anywhere else in the world. Those services include high resolution Maps, Real-Time Weather Displays, 3D Charts & Graphs, Financial Quotes and a virtually unlimited set of tools to create topical News Graphics.
“The acquisition of AXIS Graphics will enhance Chyron’s business around the world,” adds Wellesley-Wesley. “Not only does the AXIS technology integrate with our popular broadcast products, it instantly expands our reach to include non-broadcast clients like newspapers, radio stations, mobile phone and digital media producers and anyone producing content for the Internet.
Randy Pyburn, AXIS Graphics Founder believes the acquisition is not only a great marriage of technologies; it will change how people build graphics for television and the Internet. “We will now provide a one-stop seamless platform to create, composite and distribute graphic content over the Internet for traditional and new media markets,” adds Pyburn. “And better yet, we will save our clients money. This is an awesome combination that is a game changer for the industry.”