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FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 25, 1997
DIGITAL VIDEO SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-28472 77-0333728
(Commission File Number) (I.R.S. Employer Identification No.)
2710 Walsh Avenue
Santa Clara, California 95051 95051
(Address of principal executive offices) (Zip Code)
(408) 748-2100
Registrant's telephone number, including area code
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Item 5. Other Events
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On July 25, 1997, Digital Video Systems, Inc., a Delaware corporation
(the "Registrant") entered into an Asset Purchase Agreement with Arris
Interactive L.L.C. ("Arris") pursuant to which the Registrant has agreed to
acquire substantially all of the assets (excluding accounts receivable) of the
Digital Video division of Arris (the "DV Business") for a combination of cash,
600,000 shares of the Registrant's common stock, and additional cash
consideration to be based on the future revenues of the DV Business (the
"Acquisition"). The DV Business of Arris (which is a joint venture of Nortel
and ANTEC) designs, manufactures and distributes MPEG-2 decoding, switching,
streaming and multiplexing solutions that deliver advanced video systems like
digital ad insertion and near video on demand to subscribers.
The closing of the Acquisition, which is subject to certain customary
closing conditions, is anticipated to occur on or about August 1, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DIGITAL VIDEO SYSTEMS, INC.
Date: July 31, 1997 By: /s/ Thomas R. Parkinson
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Thomas R. Parkinson
President
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