Sumitomo Corporation to Distribute Virage Platform in Japan
Major Japanese Integrator Will Provide Virage Technology in the Asian Market
Japan. - June 11, 2001 - The Sumitomo Corporation today announced that they have been licensed as an official distributor of Virage software and application services to the Japanese market. Already a major Japanese systems integrator, Sumitomo will now include the powerful Virage Video Application Platform as part of their product offering. Sumisho Electronics will provide engineering support for this relationship.
Headquartered in San Mateo, California, Virage [Nasdaq: VRGE] is the leading provider of video content management and publishing solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. Virage currently has over 250 customers around the world, including the BBC, Cable News Network, the Coca-Cola Company, Fox Sports, General Motors, Harvard Business School, and Major League Baseball.
Virage software creates a searchable database of digital video by encoding and cataloging audio, text and face information, as well as keywords contained within the content. The database enables easy access to small clips of video in a matter of seconds. Sumitomo will provide the Virage platform to production and broadcast companies, universities, and general enterprises looking to utilize digital streaming video in their operations.
"The Japanese market is currently outpacing the US in the deployment of digital broadcast automation technologies and the delivery of interactive video over wireless devices. Sumitomo will help us capitalize on these fast growing opportunities in Japan," said Paul Lego, chairman and CEO of Virage. "We welcome the opportunity to work with Sumitomo, a world leader in large scale broadcast and enterprise systems integration."
About Sumitomo Corp.
Sumitomo Corporation plays a key global role in the exchange of goods, services, and technologies among nations and cultures. We have almost 8,000 employees and, together with our 737 consolidated subsidiaries and associated companies around the world, employ over 31,000 people. Over the years, the scope of our business has expanded from that of a trader to become an investor, financier, and expediter of ideas. Building on an illustrious tradition that can be traced back four centuries, we continue to display a remarkable ability to adapt quickly to the changing times.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. From ABC to Yahoo! over 250 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video. 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 as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward looking statements are denoted by such words as "will serve", "will be" and similar terms and phrases. 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 online at http://www.sec.gov. All forward-looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage and VideoLogger are registered trademarks and the Virage logo, Video 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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