DALLAS, May 25 /PRNewswire/ -- Piranha, Inc. (OTC Bulletin Board: BYTE),
an innovator in global digital compression management solutions, announced
today that The Interpublic Group of Companies, Inc. (NYSE: IPG) has completed
a minority equity investment in Piranha. Terms of the transaction were not
disclosed.
"Piranha data compression solutions will have a tremendous impact on the
way we communicate, delivering rich content while simultaneously speeding up
the Web," said Edward W. Sample, CEO of Piranha. "Advertising, marketing
communications, e-commerce, publishing, medical imaging, archival storage,
streaming video over the Web and many other critical applications will all be
dynamically effected by Piranha technologies."
"As the convergence of platforms and media accelerates, data compression
technology has clear and growing relevance to the development, production,
distribution and storage of video and other advertising and marketing
materials," said Gil Fuchsberg, vice president, new media and technology at
Interpublic. "We look forward to working with Piranha to help develop its
innovative approaches to this important realm of Internet technology."
About the Interpublic Group of Companies:
The Interpublic Group of Companies is one of the world's largest
organizations of advertising agencies, communications and marketing services
companies and related firms. Its companies operate in 127 countries with more
than 35,000 employees. Interpublic reported nearly $4.6 billion in gross
income in 1999, with over $30 billion in advertising billings. Interpublic's
holdings include McCann-Erickson WorldGroup, The Lowe Group, DraftWorldwide,
Initiative Media Worldwide, Octagon, NFO Worldwide, Zentropy Partners, The
Allied Communications Group and other related companies. Interpublic also
manages a successful portfolio of strategic investments in Internet and
technology companies. The shares of the Interpublic Group Companies, Inc. are
listed on the New York Stock Exchange (symbol: IPG). More information is
available at http://www.interpublic.com.
About Piranha, Inc.:
Piranha, Inc. (OTC Bulletin Board: BYTE), based in Dallas, Texas, develops
and manufactures digital asset technology to produce precise compressed images
and text. Piranha business units deliver high-quality data compression
management solutions for the printing, publishing, document storage, Internet
related businesses such as music, video, games, e-commerce, photos and
advertising. Piranha solutions enhance the speed of the Web and maximize
bandwidth and storage. More information is available at http://www.piranha.com or
call 214-800-2835.
Piranha Stream and Piranha Byte are trademarks of Piranha, Inc. Other
companies names and products are trademarks or registered trademarks of their
respective companies.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995. Included in this company profile 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.
CONTACT: Edward W. Sample of Piranha, Inc., 214-800-2835,
edsample@piranhabyte.com or David McKee of Schwartz Communications, Inc.,
781-684-0770, piranha@schwartz-pr.com
SOURCE Piranha, Inc.
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Related links:
http://www.piranha.com
CONTACT:
Edward W. Sample of Piranha, Inc.,
214-800-2835, edsample@piranhabyte.com or David McKee of Schwartz
Communications, Inc., 781-684-0770, piranha@schwartz-pr.com
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