Virage Announces Strategic Relationship with Verity
SAN MATEO, California - February 11th, 2002-Virage, Inc. (Nasdaq: VRGE) announced today that it has collaborated with Verity, Inc. (Nasdaq: VRTY) to integrate the company's leading infrastructure software, Verity® K2 Developer (K2D), into Virage's next generation server. Virage customers can now use Verity's industry leading search technology to search video databases more quickly, easily and accurately.
With a significant presence in the media & entertainment, corporate, government and education markets, Virage is a leading provider of enterprise rich-media application software.
Verity K2 Developer software will enable Virage customers to find the video-related information they need more reliably and more quickly, helping companies optimize workflows and maximize return on investment. New functionality will include Verity's sophisticated query language, stem-based searching support (locates variations in nouns and verbs), document filters for most document types and multiple language support.
"Virage is committed to bringing best-of-breed technology to its customers," said Dave Girouard, senior vice president of marketing and corporate strategy at Virage. "Verity is the recognized market leader in advanced search software, so it was clearly our best choice. In particular, Verity's technology will provide our customers robust, advanced search capabilities in a wide variety of languages."
Verity K2 Developer facilitates advanced search functionality, including support for thesaurus and word-breaking. These advanced search features are available in 26 languages, including Chinese and Japanese. Verity K2 Developer is also known for its scalability and reliability-users can search tens of millions of documents with almost instantaneous response times. The product also supports over 250 file formats.
"The combination of technologies from Virage and Verity provides Bell Globemedia Interactive with a robust solution for publishing our streaming content in the most productive and efficient manner possible today," said Rob Adams, broadband product manager for Bell Globemedia Interactive.
"Virage, with its support for large amounts of video data, is well-positioned to offer its customers dramatic benefits with the addition of Verity software," said Mike Zuckerman, vice president of marketing at Verity. "Our years of experience helping major companies use their time more effectively will be of added benefit to Virage."
About Virage
Established in 1995, Virage is a leading provider of enterprise rich-media application software. Virage builds integrated rich-media business solutions for corporations, media & entertainment companies, universities and government agencies worldwide. Headquartered in San Mateo, California, Virage (www.virage.com) has offices throughout the United States, Europe and Asia-Pacific.
About Verity
Headquartered in Sunnyvale, California, Verity is a leading provider of business portal infrastructure software. Verity software gives businesses a multitude of ways to improve access to vital information and perform a range of e-business operations, while enhancing the end-user experience. Verity software enhances business portals, which include corporate portals used for sharing information within an enterprise, e-commerce portals for online selling and market exchange portals for B2B activities, all provide personalized information to employees, partners, customers and suppliers.
Verity products are used by 80 percent of the Fortune 50 and by more than 1,500 corporations in various markets. Customers include Adobe Systems, AT& T, Cisco, CNET, Compaq, Dow Jones, EDGAR Online, Cap Gemini Ernst & Young, FairMarket, Financial Times, Globe and Mail, Home Depot, Lotus, NewsEdge Corporation, SAP, Siemens, Sybase, Time New Media and Timex. In 2001, Delphi Group named Verity as the market leader in the portal infrastructure software market.
Forward-Looking Statements
This press release contains "forward-looking" statements, as that term is used in Section 21E of the Securities Exchange Act of 1934, about the products and services of Virage and the benefits to be obtained from the use of Verity® K2 Developer. Forward-looking statements are denoted by such words as "will be able,""will enable,""will provide" 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, including the risk that integration of Verity® K2 Developer into Virage's next generation application server will be delayed or not occur, or not perform as anticipated as a result of unforeseen technical difficulties. In addition, these forward-looking statements should be considered in the context of other risk factors discussed in Virage's and Verity's filings with the Securities and Exchange Commission, including Virage's annual reports on its Form 10-K and 10-Q filings, and Verity's most recent Annual Report on Form 10-K, both of which are 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. The Virage logo, SmartEncode and Virage Solution Server r are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged. Verity and the Verity logo are registered trademarks or trademarks of Verity, Inc.
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