Live Picture buys an Israeli company, the Olivr Corporation, in a stock exchange deal.
Live Picture, a privately held company, produces imaging software for the Net. With Olivr 's technologies, Live Picture hopes to allow online commerce sites to feature higher-quality images and allow users to download them more quickly. For example, customers at an online car dealership could zoom in on specific details of a car or truck for sale.
"We enable e-commerce by providing more compelling content," said Jacob Guedalia, founder and CEO of Olivr.
Live Picture also developed FlashPix, an open standard file format in collaboration with Hewlett-Packard, Kodak, and Microsoft, which lets users pan and zoom in on images. Israel-based Olivr, develops software specializing in imaging technology for the Web. Olivr software provides server architecture for streaming interactive photo media.
John Scully, former CEO of Apple and current chairman of Live Picture, is also on the board of HK Strategy and Finance, which represented Live Picture in the deal.
Guedalia will become vice president of the combined company and hold a seat on the board of directors. Olivr cofounder Richard Levandov will also stay with the company for the immediate future.
"The actual deal is expected to close in mid-August, and we will work together between now and then," said Kate Mitchell, Live Picture's president and CEO.