Thomson Multimedia, Akamai, RealNetworks and CNET Networks to Make Equity Investments in Virage
Broadband Relationships Expand the Reach of Virage-Enabled Interactive Video
NAB 2000, Las Vegas, NV—April 10, 2000 —Virage Inc., a leading provider of interactive video search products and application services, today announced that Akamai Technologies (NASDAQ: AKAM), CNET Networks (NASDAQ: CNET), RealNetworks® (Nasdaq: RNWK) and THOMSON Multimedia (NYSE: TMS) have each agreed to make a private equity investment in Virage. These investments will close concurrently with Virage's anticipated initial public stock offering. In addition, considering Virage products and services critical to the success of their respective broadband initiatives, each of these companies has entered into a business relationship with Virage. These new relationships extend the reach and performance of Virage-enabled interactive video.
THOMSON Multimedia (NYSE: TMS), a leading manufacturer and marketer of television products in the U.S. with the popular RCA, GE, and PROSCAN brands, has agreed to make a $10 million private equity investment in Virage which will close concurrently with Virage's anticipated initial public stock offering. Thomson, which makes a wide variety of consumer electronics and broadband multimedia products, and Virage have complementary interests in enabling comprehensive broadband media solutions. The two companies are exploring ways to marry Virage's unique technology and broadband infrastructure with the global reach of Thomson's industry-leading consumer electronics products.
Akamai Technologies, Inc., a leading provider of global, high performance services for the delivery of Internet content, streaming media, and applications, will make a $3.5 million private equity investment in Virage which will close concurrently with Virage's anticipated initial public stock offering. In addition, Virage and Akamai announced a business agreement aimed at enhancing the publishing and delivery of video on the Internet. As part of that 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.
RealNetworks, Inc., a recognized leader in Internet media delivery, will make a $3 million private equity investment in Virage which will close concurrently with Virage's anticipated initial public stock offering. In addition, RealNetworks will team with Virage to provide improved video search to its more than 100 million unique registered users of the RealPlayer and the more than 12 million unique monthly users of Real.com Network (according to Media Metrix, February 2000). RealNetworks will also join Virage's growing network of providers for its Virage Interactive services.
CNET Networks, Inc., the source for computers and technology, has agreed to make a $2.5 million private equity investment in Virage which will close concurrently with Virage's anticipated initial public stock offering. In addition, CNET has selected Virage as its primary provider of streaming media infrastructure for CNET's network of sites and its content syndication initiatives. Virage will supply CNET with comprehensive broadband video services, including video indexing, video search, video publishing and video syndication.
"Virage is well known for providing content owners with products and application services that unlock the value of their video assets," said Paul Lego, chairman and CEO of Virage. "We are excited to be working closely with such pioneering companies as Thomson, Akamai, RealNetworks and CNET to extend the reach and power of Virage-enabled content. Teaming with such leading providers enables Virage to deliver, to content-owners and end-users alike, a rich interactive video experience tailored to any distribution medium."
About Akamai
Akamai Technologies is headquartered in Cambridge, Massachusetts and has offices in San Mateo and Cupertino, California, and Europe. Akamai is a 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 CNET Networks, Inc.
CNET Networks, Inc. is a leading edge media company, producing a branded Internet network, computer product database and television and radio programming for both consumers and businesses. CNET is the leading authority on computers, the Internet and technology products and services. CNET's network serves millions of users each day. CNET Data Services licenses its multi-lingual product database to more than 40 U.S. and European online computer retailers, resellers and leading e-commerce companies. CNET television programming airs on CNBC and in national syndication, as well as nearly 100 foreign countries. In addition to providing television programming to international markets, CNET also produces localized versions of CNET's Web site and services for Hong Kong, Singapore, Japan, Korea, China, Taiwan and Australia. CNET Radio airs in the San Francisco Bay Area on KNEW 910 AM. CNET currently has investments in cash and marketable securities that are valued at more than $800 million, including its approximate 12 percent stake in NBC Internet Inc.
About RealNetworks
RealNetworks, Inc., based in Seattle, is a recognized leader in media delivery on the Internet. It develops and markets software products and services designed to enable users of personal computers and other consumer electronic devices to send and receive audio, video and other multimedia services using the Web. Consumers can access and experience audio/video programming and download RealNetworks consumer software on the Internet at http://www.real.com. RealNetworks' systems and corporate information is located on the Internet at http://www.realnetworks.com.
About THOMSON Multimedia
The world's fourth largest producer of consumer electronics with sales of Euro 6.7 billion ($6.4 billion US) in 1999 and 55,000 salaried employees in more than 30 countries, THOMSON multimedia has four principal activities: Displays and Components, Consumer Products, New Media Services, and Patents and Licensing. The Group engineers, manufactures, and markets display components and consumer products such as televisions, VCRs, camcorders, digital decoders, DVD players, audio and communications products, as well as professional video equipment. THOMSON multimedia is listed on the Paris stock exchange (SICOVAM:18453) and the New York Stock Exchange (NYSE:TMS). THOMSON multimedia is the parent company of the U.S.-based Thomson Consumer Electronics, Inc. Visit THOMSON multimedia on the Web: http://www.thomson-multimedia.com/.
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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