STREAMING MEDIA WEST 2001, LONG BEACH, Calif., June 20 /PRNewswire/ --
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(TM),
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(TM) 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 Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of
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. 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.
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, Comverse Technology,
Credit Suisse First Boston, GE Equity, Intel Capital, Kyocera, Motorola,
Philips, QUALCOMM, Siemens' Mustang Ventures, Sony Corporation of America, Sun
Microsystems, Texas Instruments, and others. To learn more, visit http://www.pv.com.
This press release contains "forward-looking" statements about the
products and services of Virage and PacketVideo, 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 offer," "will enable" 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.
NOTE: Virage and VideoLogger are registered trademarks and the Virage
logo, Internet Video Guide, Video Application Server and SmartEncode are
trademarks of Virage, Inc. PacketVideo and PacketVideo product names are
trademarks or registered trademarks of PacketVideo Corporation. Other company
product and service names may be trademarks or service marks of others, and
are hereby acknowledged.
SOURCE Virage, Inc.
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Related links:
http://www.virage.com
CONTACT:
Charlene Chen of Weber Shandwick,
310-201-8868, or cchen@webershandwick.com, for Virage, Inc.; or
Kari Swartz of Imagio/JWT, 206-625-0252, or karis@imagio.com, for
PacketVideo Corporation
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