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Opta Systems Grabs Go Video

4/08/2003 09:29:00 AM Eastern

Santa Clara, Calif.- A U.S. bankruptcy court approved Opta Systems' bid for Sonicblue's GoVideo business unit.

The asset transfer is expected to take place in mid-April.

The $12.5 million bid is subject to adjustment, and the consummation of the transaction is subject to certain closing conditions, Sonicblue said.

On April 15, separate auctions for Sonicblue's ReplayTV and Rio business units will be held.

Opta Systems is a subsidiary of the investment company Carmco. Opta's vice chairman, Roger Hackett, was Sonicblue's former VP of worldwide sales. Carmco works with companies to expand their sales in consumer product markets. Opta contends its expertise in marketing, product and business development, logistics, operations, finance and the like will help GoVideo 'achieve long term sustainable enterprise value.'

Go Video marketed integrated DVD+VCRs, dual-deck VCRs, and home-theater-in-a-box systems. Replay TV markets PVRs, and Rio is known mainly for its digital audio portables, having marketing the first flash-memory portable in the United States.

Said Hackett, 'I believe in the products and the GoVideo team, and I am confident that together with management, we can leverage the tremendous growth in the digital video marketplace to achieve GoVideo's full potential.'