The following year marked the formation of Vizrt when Peak Broadcast Systems merged with RT-SET (Real Time Synthesized Entertainment Technology) Ltd, an Israeli virtual studio system developer. RT-SET, founded in 1994, utilized flight simulation technology originally developed for the Israeli Air Force, transforming it to a virtual set and on-air graphics systems that could benefit the television broadcast industry. In 1999, RT-SET had an initial public offering on the Frankfurt Stock Exchange, raising $48 million. The combined company continued to be listed on the Frankfurt Stock Exchange (under ticker symbol VIZ), until 2009 when it delisted its shares.