Zideo to Receive $500,000 Licensing Fee and Profit-Sharing Arrangement
RICHARDSON, Texas, April 12 /PRNewswire/ -- Piranha, Inc.
(OTC Bulletin Board: BYTE) announced today that its wholly owned subsidiary,
Zideo, Inc. has entered into a binding agreement with SundayOnline.com to
provide streaming video encoding services.
The joint venture, strategic relationship agreement between the parties
provides SundayOnline.com with exclusive marketing rights to Zideo's streaming
media and encoding services for the market segment identified as churches,
seminaries, and religious ministries worldwide. SundayOnline.com has agreed to
pay Zideo a one-time licensing fee of $500,000 in addition to an undisclosed
profit sharing agreement on all encoding services.
"We are using Piranha's state of the art compression technology, together
with our unique production processes to manage a variety of cutting edge
applications that will deliver fully optimized media for SundayOnline," says
Nate McClintock, Zideo's principal negotiator of the agreement. "Zideo will be
offering a complete Internet media enabling solution for the SundayOnline
organization and its customers," McClintock continued. "The Electronic
Ministry is a new market desperately in need of technology leadership.
Zideo's streaming media encoding expertise and creative development will
empower this dynamic market segment."
Richard Hogue, Chief Executive Officer of SundayOnline was quick to add,
"Zideo's ability to deliver this high quality of encoded content together with
a variety of additional creative services, will play a significant role in the
success of SundayOnline. We have been very impressed with the Zideo team who
have successfully demonstrated how to establish a stable environment for
providing high quality Internet services, including 56k to broadband video and
audio, website graphic development, hosting, database development and deliver
this successfully to our worldwide audience."
Hogue continues; "With Zideo in place as our technology solutions partner,
we will be offering an unparalleled service to religious ministries
worldwide."
About Zideo, Inc.
Zideo Inc., is a world class provider of Internet Media Enabling Services
and has highly skilled, knowledgeable and experienced professionals, web
masters, marketing professionals and sales professionals with particular
expertise in the areas of video and audio streaming technologies, graphic
design, website development. Zideo has become recognized in the Internet
community as a "solutions" provider. Having high quality technology is
imperative, but providing creative ideas and unique solutions to customers
needs has separated Zideo from the ordinary Internet service provider. Zideo,
Inc. is a wholly owned subsidiary of Piranha, Inc. More information is
available at http://www.zideo.com .
About SundayOnline.com, Inc.
SundayOnline.com, the website, is the first such community, and sets out
to be the leading Internet portal for the worldwide Christian community,
targeting the leaders of this community-first its pastors and ministry
workers-with the ultimate websites to fill their needs, from resources to
assist in building sermons and lesson plans, to procurement of church
materials, to the simplification of fundraising efforts. SundayOnline.com is
also a distinctive Internet Website for the Christian community and is
targeting the 75 million U.S. Christians currently online plus the millions of
additional Christian families who will engage in e-commerce during the next
decade. SundayOnline.com, Inc., as a company, seeks to establish itself as a
leader in providing on-line communities focused on religious faiths, offering
community, content, and commerce to individuals visiting its sites that is
tailored to their beliefs, desires, and needs. SundayOnline.com intends to
become the dominant e-commerce, information, on-line community, and
entertainment source for the Christian world. For more information, visit
http://www.sundayonline.com .
About Piranha, Inc.
Piranha, Inc. (OTC Bulletin Board: BYTE) develops digital compression
solutions to produce precise compressed images, sound and text for
e-businesses, publishers and printers. Piranha delivers high-quality "lossy"
and "lossless" data compression management solutions for printing, publishing,
medical imaging, document storage and Internet-related businesses such as
music, video, gaming, e-commerce, photos and advertising. Piranha solutions
increase the speed of Web pages and maximize bandwidth and storage. Piranha
products are available on Linux, Windows, Sun Solaris and Macintosh systems.
More information is available at http://www.piranha.com .
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995
Included in this press release are certain "forward looking" statements
within the meaning of the Securities Act of 1933, as amended. Although the
Company believes that the expectations reflected in such forward looking
statements are reasonable, actual results may differ materially from those
anticipated in the forward looking statements as a result of certain factors
including sales levels, retention, competition trends, and other market
factors. This announcement does not constitute an offer of any securities for
sale or a solicitation of an offer to buy any securities.
CONTACT: Nate McClintock of Zideo, Inc., 972-739-0374, or
nate@zideo.com
SOURCE Piranha, Inc.
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Related links:
http://www.piranha.com
CONTACT:
Nate McClintock of Zideo, Inc., 972-739-0374,
or nate@zideo.com
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