Virage and PacketVideo Partner to Provide Wireless Interactive Streaming Video Solution
STREAMING MEDIA WEST 2001, LONG BEACH, Calif. - June 20, 2001 - Virage, Inc. [Nasdaq: VRGE], a leading provider of video content management and publishing solutions, and PacketVideo Corporation, the recognized leader in software for the delivery of rich media over today's wireless networks, today announced an alliance to provide application and content developers with a combined solution that will enable personalized interactive streaming video delivery to wireless devices.
Under the agreement, the companies will combine Virage's Video Application Platform with PacketVideo's MPEG-4 rich media encoding system, PVAuthor™, to provide application and content developers with a new tool to enable the delivery of highly targeted video clips via wireless devices. PVAuthor will compliment Virage's patented SmartEncode™ technology, enabling searchable multimedia to be played over wireless devices such as mobile telephones and Personal Digital Assistants (PDAs). Virage's SmartEncode process provides a new layer of interactivity to wireless multimedia by simultaneously indexing and encoding video content in real time, providing users with the ability to deploy, search and experience video content on demand.
"PacketVideo is delighted to partner with Virage to enable developers to create new, personalized rich media applications for wireless devices," said Robert Tercek, president of PacketVideo's Applications & Services Division. "Utility, relevance and convenience are the critical success factors for today's mobile applications. Virage's unique technology empowers mobile users to access the relevant content they want, in a convenient and searchable video format."
Global wireless operators like Swisscom Mobile will ultimately reap the benefits of this relationship by gaining access to unique rich media applications and services based upon PacketVideo's interoperable technology and Virage's innovative video experience. These types of rich media applications and services will offer mobile operators new revenue opportunities, competitive differentiation, and increased customer acquisition and retention.
"We are pleased with Virage and PacketVideo's solution as we look to provide our European base of mobile users with cutting-edge applications and services that are simple and compelling to use," said Daniel Ledermann, program leader for Media and Service Design of Swisscom Corporate Technology. "The integration of PacketVideo and Virage technologies presents exciting opportunities for our customers to conveniently tap into the content most relevant to them."
"Our new partnership with PacketVideo enables us to extend our solutions into the wireless industry, enabling content and application developers, and ultimately, the mobile user, to take full advantage of the unique interactive capabilities of our Video Application Platform," said Carlos Montalvo, chief marketing officer at Virage. "We believe that the combination of PacketVideo's leading MPEG-4 wireless streaming technology with Virage's interactive multimedia capabilities will help drive consumer usage and become a critical component of advanced wireless services."
About PacketVideo
PacketVideo, the recognized leader in software for the delivery of rich media over today's wireless networks, provides MPEG-4 products that enable the distribution of one- and two-way video, high-quality audio, animation and graphics over wireless networks to mobile devices such as telephones and personal digital assistants. The company enables the entire wireless industry to benefit from the added value of advanced rich media services.
PacketVideo's investors include AOL Time Warner (NYSE: AOL), Comverse Technology (Nasdaq: CMVT), Credit Suisse First Boston, GE Equity (NYSE: GE), Intel Capital (Nasdaq: INTC), Kyocera (NYSE: KYO), Motorola (NYSE: MOT), Philips (NYSE: PHG), QUALCOMM (Nasdaq: QCOM), Siemens' Mustang Ventures, Sony Corporation of America (NYSE: SNE), Sun Microsystems (Nasdaq: SUNW), Texas Instruments (NYSE: TXN), and others. To learn more, visit www.pv.com.
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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