FOCUS Enhancements Completes Acquisition Of Videonics

22-Jan-01

Videonics, Inc announced it has completed its merger with Focus Enhancements. The acquisition was completed at the close of business on January 16, 2001 in a stock-for-stock transaction. The acquisition was accounted for as a purchase. On August 31, 2000, FOCUS Enhancements announced a definitive agreement to acquire Videonics. Under the terms of the agreement, each outstanding share of Videonics common stock now represents the right to receive .87 shares of FOCUS Enhancements common stock. In addition, FOCUS will assume all outstanding options to purchase Videonics common stock. Based on the number of Videonics shares as of the close of the acquisition, FOCUS will issue a total of approximately 5.1 million shares of its common stock. Videonics common stock will cease trading on the Nasdaq SmallCap Market at the close of market on January 16, 2001. About FOCUS Enhancements FOCUS Enhancements, Inc. (NASDAQ: FCSE) develops and markets advanced, proprietary video conversion ASICs for the converging, multi-billion dollar Internet, computer and television industries. The company's technology, which is sold globally through Original Equipment Manufacturers (OEMs) and resellers, merges computer-generated graphics and television displays for Internet viewing, presentations, training, education, video teleconferencing and home gaming markets. More information on FOCUS may be obtained by visiting www.focusinfo.com. About Videonics Videonics is a leading designer of affordable, high quality, digital video equipment for the broadcast, cable, business, industrial, presentation, Internet and home video production markets. Videonics products include application controllers, edit controllers, mixers, character generators and video editing software solutions. More information on Videonics may be obtained by visiting www.videonics.com.

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