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02/10/2002

Pinnacle Systems acquire VOB Computersysteme

Pinnacle Systems have acquired VOB Computersysteme GmbH, a privately held company based in Dortmund, Germany.
VOB Computersysteme Gmbh specialise in writable CD and DVD products and technology. The company was acquired for a total purchase price of approximately $7 million, consisting of $4 million in cash and the issuance of $3 million worth of Pinnacle Systems common stock. The company will be merged into the Pinnacle Systems Business and Consumer division. Pinnacle Systems acquired all intellectual property, products and software rights, along with all other assets and liabilities of the company and will account for this transaction as a purchase.
Pinnacle Systems plan to combine VOB Computersysteme’s writable CD and DVD technology with Pinnacle’s DVD and consumer video authoring solutions to enable the recording of data, music and video to both CDs and DVDs.
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