Anonymous (not verified) - May 24th, 2000
MGI Software (TSE:MGI), a leader in digital video, has announced that it has signed a worldwide licensing agreement for VideoWave with IBM Computer Corporation (NYSE:IBM). Effective immediately, IBM will be shipping MGI's market leading video publishing software on the IBM ThinkPad A Series mobile computers. No other terms were disclosed.
This is the first agreement between MGI and a major PC vendor that initially targets mobile computer users. Although connectivity and storage barriers have prevented desktop and laptop users from editing their own video in the past, these issues have been overcome by high-speed data transfer standards such as IEEE-1394 and USB and an increase in basic system performance and hard drive capacities.
"This agreement is another major win for MGI while adding to our strong revenue growth from OEM channels," said Anthony DeCristofaro, president and CEO, MGI Software. "We have evolved VideoWave to address a broader market of PC and Internet users. With its built-in Web publishing capability, VideoWave is positioned to be more and more used in every day business and personal communications."
"We are seeing a growing trend among our customers, where video is increasingly being used for business," added Ihor Petelycky, general manager, MGI Digital Video. "VideoWave is the hands down leader among consumers, but it's ease of use, powerful features and support for high quality MPEG and streaming video output make it uniquely suited for business purposes as well."