Apr 19, 1999
Real time video and audio compression is a core technology that enables low cost digital video-based solutions and allows economic storage and transmission of TV quality multimedia data. MPEG-2 compression will enable a user to store and play a movie on a consumer digital device, such as a PVR or a PC. It requires approximately 2 Gbytes of disc space to record approximately one hour of broadcast quality video. iCompression provides the only single chip audio and video MPEG-2 compression available in the market today and is the first company to receive funding from Seagate's Venture Capital Fund.
"As Seagate continues to develop solutions for the consumer market, we will invest in enabling technologies, like iCompression's, that will help advance Seagate's consumer strategy," said Seagate President and Chief Executive Officer Steve Luczo. "iCompression's ability to deliver real time MPEG-2 compression on a single chip can enable a new breed of consumer electronics and digital appliances that will fuel storage-intensive applications."
"The combination of iCompression's MPEG-2 expertise along with Seagate's leadership in A/V storage technology can enable a new class of connected consumer electronics products," said iCompression President and Chief Executive Officer Neal Margulis. "MPEG-2 is the preferred choice for video over networks and for delivering TV quality streaming media over broadband internet connections."
Seagate Technology, Inc. (NYSE:SEG) is a leading provider of technology and products enabling people to store, access, and manage information. The Company is committed to providing best-in-class products to help people get information when, where and how they want it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, an innovator in tape drives, and a leading developer of Enterprise Information Management software. Seagate can be found around the globe and at http://www.seagate.com. For automated news, stock and financial information by phone, dial toll-free 877-SEG-NYSE. Outside the U.S. and Canada, dial 760-704-4368.
Founded in 1996, iCompression Inc. is a Silicon Valley, CA-based developer and marketer of video and audio compression technologies for the communications and home electronics markets, and was the first company to develop and market a single-chip MPEG-2 video, audio and program or transport stream encoder, the iVAC chip.
The company has several patent-pending technologies that enable it to combine many functions onto a single chip, ensuring the low cost and small form factor required by the makers of consumer devices. iCompression's iVAC line of MPEG-2 encoding products will begin shipping in mid-1999 and will be sold directly through iCompression. More information on iCompression Inc. and its products can be obtained at http://www.icompression.com, or via phone at (408) 919-6523.
Note to Editors: iCompression, iVAC are trademarks of iCompression, Inc. Other product names mentioned herein are for identification purposes only and may be trademarks and or registered trademarks of their respective companies. This press release includes forward looking statements which are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Forward looking statements involve risks and uncertainties including, but not limited to, delays and difficulties in research and development activities, technical difficulties, changes in allocation of resources available for research and development, failure of enabling technological development and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ substantially from management's expectations.