Akamai Selects Virage as a Preferred Provider of Video Search Services
Akamai to Make $3.5 Million Equity Investment in Virage
NAB 2000, Las Vegas, NV and CAMBRIDGE, Massachusetts—April 10, 2000 —Virage, Inc., a leading provider of interactive video search products and application services, and Akamai Technologies, Inc. (NASDAQ: AKAM), a leading provider of global, high performance services for the delivery of Internet content, streaming media, and applications, today announced a business agreement aimed at enhancing the publishing and delivery of video on the Internet. In addition, Akamai will make a $3.5 million private equity investment in Virage, which will close concurrently with Virage's anticipated initial public stock offering.
Under the terms of the agreement, Virage will become a preferred provider of video indexing and search services to Akamai. Akamai joins Virage's growing network of providers for its Virage Interactive services. By adding Virage's application services to its content delivery service offerings, Akamai will be able to supply its customers with Virage's broad set of interactive video publishing and search capabilities. In addition, Virage will offer Akamai's FreeFlowSM and FreeFlowSM Streaming delivery services to its customers, providing a more complete and high-performance approach to publishing their content on the Internet.
"We are excited to be able to offer Virage's application services, and to integrate its video indexing, search and publishing capabilities into our comprehensive content delivery service offerings," said Paul Sagan, president and COO of Akamai. "Web site owners with digital media assets want their visitors to easily find and enjoy streaming media content. Virage's products and services are key to providing a great user experience and compelling value proposition for content providers."
"We are very pleased to be working with Akamai to provide content owners a more complete approach to unlocking the value of their video online," said Paul Lego, chairman and CEO of Virage. "Akamai's highly-regarded content delivery system is an excellent complement to our broadband video application services, giving both end-users and content providers the type of high-performance and ease-of-use critical to the adoption of video on the Internet."
About Akamai
Akamai Technologies is headquartered in Cambridge, Massachusetts and has offices in San Mateo and Cupertino, California, and Europe. Akamai is the leader in distributed content, streaming media, and applications delivery, serving over 550 of the Web's most popular properties including over 125 leading e-commerce companies. Akamai has deployed the broadest global network for content, streaming media, and applications delivery with more than 2,750 servers in over 45 countries directly connected to more than 150 different telecommunications networks. Akamai (pronounced AH kuh my) is Hawaiian for intelligent, clever and cool.
About Virage
Virage is a leading provider of products and application services that enable owners of video content to publish, manage, and distribute their video assets over the Internet or corporate intranets. Virage Interactive™ services provide content owners with the infrastructure for integrating Internet-compliant video into their web sites. Virage's VideoLogger™ and AudioLogger™ enable real-time indexing and distribution of video across the Internet or corporate intranets. Virage customers include ABC, AltaVista, Associated Press, BBC, Boeing, CBS, CNET, CNN, Compaq, C-SPAN, DaimlerChrysler, FBI, FOX Sports, General Electric, General Motors, Harvard Business School, iVillage.com, Lifetime Entertainment, Lockheed Martin, MGM, Morgan Stanley, NASA, NBCi/SNAP.com, New York Times, NYSE, NTT, ON24, PBS, RealNetworks, Reuters, Swiss Radio-TV, Telecinco, Yahoo! and Young & Rubicam. Headquartered in San Mateo, CA, Virage was incorporated in 1995 to provide organizations with advanced methods for searching, locating, and using video content. Contact Virage at http://www.virage.com/ or (650) 573-3210.
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