Marlboro, Mass.-based video editing hardware and software developer
Media 100 Inc.
announced today that it’s looking for investors or a buyer to come to its rescue. The company said without an infusion of cash, it may be forced to close its doors.
Media 100 makes custom hardware used in professional video editing, and also develops video editing software that runs on the Mac. Media 100’s flagship 844/X product is a real-time vertical editing system. The company also offers the Media 100 HD, a native HD and SD editing system comprising hardware and software that runs on Mac OS X. Media 100 also makes Media 100 i, a software-based video editing solution aimed at video pros and content designers.
The company said that it hopes to find additional capital or a sale of all or part of its business. Media 100 hopes to make a more definitive statement within the next couple of weeks. “In the event negotiations do not result in definitive arrangements in the short term, the Company may be required to cease operations,” said a statement.
Media 100 Inc. has been hampered by a series of financial crunches in recent months. Despite awards, high-profile installation wins for its 844/X systems and a refocus on direct sales efforts, Media 100 saw its stock in 2003 delisted from the NASDAQ National Market, transferred to the NASDAQ SmallCap Market, and then moved to the OTC Bulletin Board. The stock closed today at 0.18, off 0.32 (or 64 percent) for the day.