Dazzle Acquires Fast Multimedia's Personal Video Division
Digital video company Dazzle (http://www.dazzle.com) said it had acquired the Personal Video Division of FAST Multimedia AG (
http://www.fastmultimedia.com), a German maker of video hardware.
Dazzle has acquired all of the company's assets, including its research and development, marketing, sales, distribution and administrative operations for approximately $8 million including performance-related payments of $4 million.
With this acquisition, Dazzle has formed Dazzle Europe, based in Germany.
"The acquisition of FAST PVD will position Dazzle as a strong worldwide player and help Dazzle speed product development and expand the product line into the international market by leveraging the resources of both companies," said Sajid Sohail, co-founder and chief executive officer of Dazzle Inc. "In addition, we are pleased to announce the appointment of Steffi Koerner as the general manager of Dazzle Europe. As former general manager of FAST PVD, Koerner brings valuable expertise and knowledge of the professional and consumer video markets in Germany and all of Europe.
Dazzle makes consumer-oriented video capture hardware.