Princeton Video Image and Triveni Digital Form Strategic Alliance
A Leading Data Broadcasting Platform Joins in the Expansion of iPoint Technology Development
May 6, 2002
Princeton Video Image, Inc. (Nasdaq: PVII), the global leader in virtual advertising and imaging solutions, announced today the formation of a strategic alliance with Triveni Digital, a leading supplier of data and metadata products in the digital broadcasting industry. The agreement will enable both companies to work together to further develop PVI's patented iPoint system and to perfect new digital television applications, specifically those related to video insertion and targeted advertising.
As part of this agreement, Triveni and PVI have agreed to jointly market and integrate their technology and products, resulting in a more complete iPoint product offering. This combination also offers a broader opportunity for the Triveni SkyScraper platform.
iPoint is a hardware and software system developed and patented by PVI which enables advanced set-top boxes to insert individually targeted and interactive advertising images into video while it is being viewed.
Triveni's SkyScraper data broadcasting platform is used by many TV Broadcasters to distribute enhanced and interactive TV content. With the integration of SkyScraper and iPoint, PVI will be able to offer a complete solution to TV broadcasters and cable operators.
"As PVI continues to develop iPoint and its associated interactive television applications, it is vital for our company to align with valuable partners such as Triveni," said Brown Williams, Chairman of PVI. "With its back-end expertise in streaming data, Triveni will be a critical piece of the overall iPoint product offering."
"This is about opening up a whole new avenue in broadcasting," said Mark Simpson, President and CEO of Triveni Digital. "The ability to target video, whether it is advertising or additional program information, allows the broadcaster and the viewer to interact in a very personal manner and achieve an incredibly high level of sophistication in content.
About Princeton Video Image, Inc., (www.pvi-inc.com)
Princeton Video Image, Inc. (PVI) provides real-time virtual advertising, programming enhancements, virtual product integration and targeted interactive services for televised sports and entertainment events. PVI services the advertising industry with its proprietary, Emmy award-winning technology. Headquartered in New York City and Lawrenceville, New Jersey, PVI has offices in Canada, Brussels, Israel and Mexico City, as well as a licensee office in Seoul. The company employs approximately 100 people worldwide.
About Triveni Digital
Triveni Digital, Inc., a subsidiary of LG Electronics, develops digital television systems, focusing on equipment for management of data and meta-data in digital broadcast streams. Triveni's products for ATSC PSIP, data broadcasting, stream analysis and monitoring are renowned for their ease of use and innovative features. Triveni Digital's Custom Solutions business enables the rapid deployment of solutions for data broadcast applications. Working with leading industry partners, Triveni Digital employs an open and standards-compliant approach to the digital television market.
Triveni Digital's SkyScraper system and solutions assist broadcasters to broadcast large quantities of data in a secure end-to-end environment from information providers through broadcast stations to information customers. The system includes head-end servers to manage the data flow from information providers to broadcast stations, and customer-site receivers to extract the data from the broadcast and make it available to end-users. This provides a cost-effective way for information providers to distribute data to their customers, while opening up new revenue streams for digital television broadcasters.
The SkyScraper data broadcasting platform offers a three-component modular architecture ideally suited for supporting multiple data broadcast operations (including interactive TV) - and the emerging new business models that accompany them.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, those relating to market acceptance, dependence on strategic partners and third party sales, contractual restraints on use of PVI's technology, a rapidly changing commercial and technological environment, competition, possible adverse regulations, need for additional financing, intellectual property rights and litigation, and other risks identified in PVI's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. PVI undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
