Virage Wins US Government Tibbetts Award for Innovation
Award Recognizes Firm's Technical Expertise and Viability of Its Video Content Management and Publishing Suite
SAN MATEO, Calif. - October 4, 2001 - Virage, Inc. [Nasdaq: VRGE], a leading provider of enterprise-scale video content management and publishing solutions, has been selected as a winner of the Sixth Annual U.S. Government Defense Advanced Research Programs Association (DARPA) Tibbetts Award. The award recognizes Virage for the quality of research and innovation undertaken to bring its video asset management technology to market.
The award is named after Roland Tibbetts, who is acknowledged as the father of the Small Business Innovation Research (SBIR) program. Virage's Video Application Platform allows content owners to efficiently capture, manage and distribute video, enabling on-demand viewing and highly selective distribution across the Internet, corporate intranets, or to any viewing device.
These prestigious national awards are made annually to firms, projects and organizations that exemplify the best in innovation and research. Early seed funding from SBIR helped Virage to create innovative product launches and to obtain the company's first round of private sector funding. This program also helped to establish Virage's technology in the U.S. government defense and intelligence communities.
"We are very pleased to be the recipient of such a prestigious award," said Paul Lego, CEO of Virage. "This award highlights how Virage's advanced video technology has gained widespread acceptance in both the government and commercial markets."
Earlier this year, Virage also won Frost and Sullivan awards for Branding and Strategic Alliance Leadership. Virage government customers include the Library of Congress, FBI, Center for Disease Control, Army, Navy, and NASA, as well as several classified government agencies. Industry-leading adopters of Virage technology also include CNN, CNET, C-SPAN, Fox Sports, PBS, Coca Cola Company, Cisco, General Motors, Pfizer, Harvard and Princeton.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of enterprise-scale video content management and publishing solutions. 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. Over 300 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video including: CNN, CNET, CBS, MGM, Bloomberg, Harvard, Stanford, Princeton, Cisco, GM, the Coca Cola Company, NY Stock Exchange, DARPA, NASA, FBI and the Library of Congress. Contact Virage at http://www.virage.com/ or (650) 573-3210.
Forward Looking Statements
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 provide", "intends to" 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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