SOURCE: Stereo Vision
January 04, 2011 07:01 ET
Stereo Vision Completes REZN8 Acquisition Effective 12/31/2010
HOLLYWOOD, CA--(Marketwire - January 4, 2011) - Stereo Vision Entertainment, Inc. (PINKSHEETS: SVSN), a publicly traded company focused on the 3D entertainment industry, announced today that it has completed the acquisition of REZN8 Productions effective 12/31/2010. Stereo Vision paid 20MM restricted common shares for 100% of REZN8. Going forward REZN8 will operate as a Stereo Vision wholly owned subsidiary. In concert with REZN8's dynamic Chairman, Robert S. Block, REZN8's founder and driving force Paul Sidlo, will continue to deliver his extraordinary accomplishments as REZN8's Chief Executive Officer.
Since 1987, Hollywood based REZN8 (http://rezn8.com) has been instrumental in creating experiences for a broad spectrum of clients, across a wide range of platforms. REZN8's assets consist of computer hardware and software, media and entertainment content, ongoing contracts, industry relationships, know-how and trade secrets. As a recognized leader in motion graphics and animation, as well as a pioneer in user interface design and implementation, examples of the REZN8 body of work can be seen in everything from the Super Bowl and Academy Awards, to Sony's "Digital Dream Kids" and NASCAR's "Fast Forward." REZN8 has generated an average of approximately $2.3MM in revenues over the last five years.
REZN8 has a significant, long standing, and multifaceted business relationship with Microsoft. Over the last five years, REZN8 has become one of Microsoft's preferred outside design sources for graphical user interface (GUI) development and production. REZN8's range of work for Microsoft includes: GUI design and development for XBOX, XBOX2, XBOX LIVE, MSN 9 and 10, HOME MEDIA CENTER, Windows XP, and Silverlight. In addition, REZN8 owns an interest in two spin-off companies. 18% ownership interest in Instant Effects. Instant Effects has developed ground breaking real-time stereo 3D technology (http://instanteffects.com), and a small ownership interest in EMN8 (http://emn8.com). Both are Sidlo co-launched companies.
About Stereo Vision:
Located in Van Nuys, California, Stereo Vision Entertainment (http://stereovision.com) is a publicly traded company focused on the production, and delivery of high-quality, low-cost digital 3D entertainment content. Responding to the incredible growth and market acceptance of digital 3D theatrical releases and the advent of stereo 3D Television, StereoVision has developed an exciting slate of commercial 3D entertainment properties for distribution to these rapidly expanding platforms.
Safe Harbor Statement: Except for historical information, this news release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended.