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Pixelworks to Acquire ViXS Systems

Combines Visual Display Processing and Comprehensive End-to-End Video Delivery To Create Industry Leader of High-Quality Video Streaming Solutions
SAN JOSE, Calif.--(BUSINESS WIRE)--May 18, 2017-- Pixelworks, Inc. (NASDAQ: PXLW), a leading provider of visual processing solutions and Toronto-based ViXS Systems Inc. (TSX: VXS), a pioneer in media processing, encoding and transcoding solutions, today announced that the companies have entered into a definitive agreement under which Pixelworks will acquire all of the outstanding common shares of ViXS in an all-stock transaction consisting of approximately 3.7 million shares of Pixelworks common stock valued at approximately US$20.2 million. At the effective closing date, each share of ViXS will be exchanged for 0.04836 of a share of Pixelworks’ common stock. The exchange ratio is equivalent to consideration of US$0.26 per ViXS common share, based on the closing price of Pixelworks on May 17, 2017. Based on a 60-day trailing average stock price for Pixelworks of US$4.65 per share and C$0.21 (US$0.15) per share for ViXS, the transaction represents a premium of approximately 47.7%.
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High Resolution Displays and Moving Images

Is higher resolution needed to convey true realism in video displays?
This white paper analyzes how moving images are perceived by the viewer and why motion images require a higher resolution than static images to ensure artifacts caused by display’s pixelated nature don’t impair the realism effect.