Virage-Enabled Video News Library Rolled Out by Reuters
Virage Products to Provide Major News Organizations with Improved Access to Reuters News Footage
SAN MATEO, Calif. - September 20, 2000 - Virage, Inc. [NASDAQ: VRGE], a leading provider of software products and application services that enable video for the Internet, today announced that the global information, news and technology group, Reuters, is now offering a new version of its popular Desktop Library that incorporates built-in Virage video indexing and search technology. This new version enables Reuters to make video footage much easier to access and manage by its global newsroom customers.
Reuters currently supplies a video library comprised of 54 broadcast tapes to over 70 top news organizations around the world. This library contains over 80 hours of footage dating back to 1896. In response to the growing need to improve access to and management of the vast amount of video material in its Desktop Library collection, Reuters is now using Virage's VideoLogger® and Audio Recognition™ software. This technology allows them to provide its customers with an index built around visual thumbnail clips of footage delivered on a CD - a significant improvement over plain text descriptions of the footage.
Virage's unique SmartEncode™ process also allows Reuters to simultaneously index and encode its video and transform it into a structured video database of short-format video clips that can be searched on demand.
Anthony Allday, director, development and product manager at Reuters, said, "By incorporating Virage's video solutions into our Desktop Library applications we are able to ensure that broadcasters have a more user-friendly experience when accessing and deploying video material. A number of our newsroom customers have already begun to incorporate Virage's video solutions into the library, and they have all been impressed with the ability to search by thumbnail clips. It has always been difficult to describe the richness of a visual medium just using words. Pictures communicate so much more."
Mark Rattley, vice president of Virage Europe, commented, "Virage is excited to be assisting Reuters make the transition to a visually enhanced search engine for its video archive. The Virage SmartEncode process, managed by the Virage VideoLogger, makes it much easier for researchers, news reporters and producers to find the pertinent material supplied by Reuters for a program."
As a result of this Reuters project and the previously announced agreements with The Associated Press and the European Broadcast Union, Virage software has now been selected by the world's three largest news providers.
About Reuters
Reuters invested in Virage via Reuters Greenhouse Fund.
Reuters (about.reuters.com), the global information, news and technology group, plays a significant role in the functioning of the financial and media markets. Reuters strategy is to make the financial markets work on the Internet. Reuters is the world's largest international news and television agency with 1,957 journalists, photographers and camera operators in 185 bureaux serving 153 countries, gathering and editing news in 24 languages. Reuters premier position is based on a reputation for speed, accuracy and impartiality as well as for continuous technological innovation. Reuters supplies news and information to over 900 internet websites. Instinet, an independently managed subsidiary of Reuters, is the world's largest electronic agency brokerage firm. It covers the equities and fixed income markets. On 30 June 2000, the Group employed 17,067 staff in 215 cities in 98 countries.
About Virage
Headquartered in San Mateo, CA, Virage is a leading provider of software 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 application services provide content owners with the complete infrastructure for seamlessly integrating Internet-compliant video into their web sites. Virage VideoLogger® and Video Application Server™ software set the standard for real-time indexing, publishing and distribution of video across the Internet and corporate intranets. From ABCNews to Yahoo!, Virage has over 150 customers worldwide in a range of markets including media and entertainment, large enterprise, education, government and Internet destinations. Contact Virage at http://www.virage.com/ or (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage and Reuters, as that term is used in Section 21E of the Securities Exchange Act of 1934. Phrases such as "will integrate" denote forward-looking statements. These types of statements address matters that are subject to risks and uncertainties which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available for viewing on our web site. (To access this, please click on "Investor Relations,""SEC Filings").
Virage, VideoLogger and the Virage logo are registered trademarks and, Internet Video Guide, Virage Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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