Qpass Teams with Virage to Commerce-Enable Streaming Video Content Online
Integration of the Qpass Digital Commerce Service and Virage Video Application Platform Will Enable Media Customers to Publish, Package, Distribute and Monetize Video Offerings on the Internet
SEATTLE, WA and SAN MATEO, CA, September 26, 2000 - Qpass, the global leader in digital commerce services, and Virage, Inc. [NASDAQ: VRGE], the leading provider of software products and application services that enable video for the Internet, today announced an agreement that will provide video content owners with a fully outsourced solution for the management, distribution and sale of streaming video content online.
Qpass and Virage will work together to ensure the interoperability of the Qpass Digital Commerce Service and the Virage Video Application Platform, and will jointly market the integrated solution. The integration of the two platforms provides media customers with a complete solution for publishing, packaging, distributing and monetizing video on the Internet. This end-to-end solution for video commerce on the Internet takes advantage of the built-in extensibility of both the Virage platform and the Qpass service.
The Qpass Digital Commerce Service, the industry's leading cross-site transactional platform for the marketing, sale and distribution of digital content on the Internet, enables the sale of premium, pay-per-use and subscription content online. Today, Qpass provides the commerce infrastructure for some of the most influential media companies on the Web, including AT&T, The New York Times, The Wall Street Journal, the Los Angeles Times, USA Today, and Factiva (a Dow Jones & Reuters company), among others. Virage's Video Application Platform supports large-scale deployment of streaming video and is currently used by more than 150 customers across the media & entertainment, enterprise, education and government markets. Virage's production-proven, integration-ready and cross-platform Internet video solutions begin with the Virage SmartEncode™ process, which simultaneously encodes and indexes video using the award-winning VideoLogger® software. The Virage platform supports dynamic publishing, management, syndication and controlled distribution of video content on the Internet and corporate intranets, and enables video for critical Internet applications such as personalization, search, community-building, online learning and e-commerce.
"Our media customers need a reliable, scalable solution that will enable them to generate new revenue from their valuable video assets," said Carlos Montalvo, vice president of marketing for Virage. "Qpass' digital commerce platform - which includes transaction support, credit card processing, billing & remittance, end-user registration, and account management - is an excellent complement to our video platform. The combined solution provides a straight-forward way for our customers to maximize the economic value of their content using the Internet."
"The untapped revenue opportunities represented by streaming media on the Internet today - and broadband tomorrow - are enormous," said Kevin Brown, senior vice president, business development for Qpass. "Virage's break-through system unlocks the value of video content by enabling it for electronic commerce in many different ways. Combining Virage-enabled video with the Qpass Digital Commerce Service allows us to provide media companies with a turn-key solution for generating real revenue from their video content."
"Our relationship is a natural," Brown added. "Both Virage and Qpass count the industry's leading media companies among our customers, as well as best-of-breed infrastructure and technology that seamlessly complements and enhances the other."
About Qpass
The global leader in digital commerce services, Qpass provides the commerce infrastructure for next-generation transactions across the Internet, broadband and mobile networks and devices. Through its flagship Digital Commerce Service, Qpass provides the building blocks for content commerce on the Internet and other emerging platforms. The industry's only cross-site transactional platform for the marketing, sale and distribution of digital content and services, Qpass enables online content providers to cost-effectively diversify their business models by generating revenue for the sale of premium content and services.
Founded in 1997, Qpass is based in Seattle, WA. The company is privately held.
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 Qpass, 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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