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Chyron acquires AXIS graphics, launches online division
January 14, 2008
MELVILLE, N.Y. — Chyron has announced the launch of Chyron Online. The foundation for this new division is today's acquisition of AXIS Graphics, a unique proprietary Web-based graphics system that has pioneered online graphics production.
"Chyron Online now significantly expands Chyron's core addressable markets beyond the traditional broadcast arena, to include Web sites, newspapers, radio stations, mobile phones and digital signage globally," said Michael Wellesley-Wesley, Chyron chief executive.
Chyron Online will provide an array of Web-based services customized to each client's unique brand. Those services include high resolution maps, real-time weather displays, 3D charts and graphs, financial quotes and a virtually unlimited set of tools to create topical news graphics.
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 Dec. 31, 2008.
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