| Technology Acquisition Targeted at Rapidly Growing DVD Authoring Market For Consumers and Professionals |
MOUNTAIN
VIEW, CA (Jan. 16, 2001) -- Pinnacle Systems, Inc. announced that it has
acquired DVD authoring technology from Minerva Networks, Inc. Technology
acquired from Minerva Networks includes the Impression family of DVD application
software, DVD formatting software and associated intellectual property.
Pinnacle Systems plans to integrate this DVD software technology with its family of industry leading content creation products to provide easy-to-use DVD authoring software compatible with emerging low-cost DVD-R and DVD-R/W drives.
Bill Loesch, vice president of new business development at Pinnacle Systems said, "This acquisition will allow Pinnacle Systems to extend its strong position in the video content creation market by incorporating DVD authoring for consumers and professionals in these solutions. We believe that as a result of recent developments in low-cost DVD-R and DVD-R/W drives, this market is poised for significant growth," Loesch added.
"Customers will benefit from this transfer of technology," said Patrick Sweeney, VP of Marketing at Minerva Networks. "Minerva can continue our rapid growth in the IP Television market while our loyal customers will benefit from the focus Pinnacle Systems will add to the DVD product line."
About Minerva Networks, Inc.
Minerva Networks, Inc. is a provider of video networking software that enables the convergence of television and the Internet. Minerva Networks is headquartered in Santa Clara, CA, and is available on the Internet at minervanetworks.com or at 408-567-9400.
About Pinnacle Systems, Inc.
Pinnacle Systems' broadcast, desktop, and consumer products provide video professionals and consumers digital video tools to create, store, distribute and view web enabled digital video. Pinnacle Systems may be reached at 650-526-1600 or on the World Wide Web at pinnaclesys.com.
SOURCE Pinnacle Systems, Inc.
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