Orban Purchases Dialog4
Jan 23, 2002 12:00 PM
Tempe, AZ - Jan 23, 2002 - Orban/Circuit Research Labs Inc. has purchased Dialog4 System Engineering GmbH, a manufacturer of ISO/MPEG, audio, ISDN, satellite transmission, networking and storage products. The company has been designing and manufacturing equipment for the codec market for over 10 years. Its products, available in Europe since 1993, include the MusicTaxi TCP/IP codecs.
CRL Systems Inc., a wholly owned subsidiary of Orban/CRL, purchased the Dialog4 assets for $2 million (U.S.), consisting of 1.25 million shares of Orban/CRL common stock valued at $1.00 per share and $750 thousand in cash to be paid at a later date. All current operations and staff of Dialog4 are being retained in Germany.
Orban/CRL has been involved in a joint project to bring the Dialog4 products to North America with the development of the Orban Opticodec and Sountainer for the past year.
Orban/CRL will now have a European operations center based in the Dialog4 offices in Ludwigsburg, Germany. The Dialog4 infrastructure will be used to expand Orban/CRL's engineering, sales, marketing and sales support for the European markets.