Amedia Networks Announces A New IPTV Home Gateway Licensing Agreement With Motorola.EATONTOWN, N.J. -- Amedia Networks, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AANI; AANIE), a provider of next generation media gateways to distribute and manage ultra-broadband triple-play services in the home, today announced that it has completed a licensing agreement with Motorola, Inc. (NYSE NYSE See: New York Stock Exchange : MOT), a worldwide leader in wireless and broadband communications, for the jointly developed MIPX home gateway platform. Under this agreement, which is intended to replace the Strategic Alliance Agreement of April 2006, Motorola will assume all engineering, manufacturing, and support duties for the family of three IP Home gateways, and pay Amedia Networks a production fee of $5.00 per unit of the gateway product, including an advance of $200,000 for the first 40,000 units to be manufactured. Separately, Motorola has also committed to paying Amedia Networks an additional $333,333 for a combination of remaining deliverables from the companies' original strategic alliance agreement and for specific transition deliverables under the new licensing agreement, of which $250,000 has been received. "We are very pleased about the terms of this licensing agreement with Motorola, which generates immediate and ongoing revenue for Amedia without additional investments in a capital intensive manufacturing effort - and for the fact that our relationship with a leading global industry force remains strong," said Frank Galuppo, Amedia Networks President, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , and Director. "It is truly a win-win for both companies, as Motorola can leverage its extensive supply chain in the manufacturing of the MIPX line of products, while Amedia can continue to concentrate on its strength of innovating and developing software for next-generation home networking and residential gateways." Jointly developed by Amedia Networks and Motorola, the MIPX gateway was originally designed to enhance data, IPTV (Internet Protocol TV) Also called "TV over IP," IPTV delivers scheduled TV programs and video-on-demand (VOD) via the IP protocol and digital streaming techniques used to watch video on the Internet. , High Definition TV, and Digital Video Recorder See DVR. capabilities using Motorola's proprietary Multi-Service Access Platform - offering Motorola customers a seamless migration to an open third-party IPTV architecture. About Amedia Networks Amedia Networks, Inc. (OTC BB: AANI) provides next generation residential media gateways to distribute and manage high-quality voice, high-definition video This article is about high-definition video technology. For television systems, see High-definition television. For the tape format, see HDV. For compression and prerecorded media, see High-definition pre-recorded media and compression. , and high-speed data services throughout the networked home. The Amedia residential gateway offers a single, compact, configurable device with the collective functionality of a modem, wireless access point, router, VoIP adapter, and family firewall - all in one. In addition, it features external media storage and a built-in operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. for carriers to continuously develop and deliver new, ultra-broadband applications to the home. The company is led by an executive team with a long and proven history in the voice, data, and telecom industries, and its core technologies have been co-developed by Lucent Technologies, Inc.'s renowned Bell Laboratories unit. For more information, visit www.amedia.com. All company names, brand names, and product names herein are trademarks of their respective holder(s). This press release may contain "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. A number of factors could cause Amedia's actual results to differ from anticipated results expressed in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Such factors are addressed in Amedia's filings with the Securities and Exchange Commission (available at www.sec.gov) and include, but are not limited to, the success and market acceptance of Amedia's triple play solution, the sufficiency of cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. to meet operating and other requirements, the relatively fast pace of obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. in the broadband communications equipment market, and the competitive environment in the economy generally and in the telecommunications specifically. Amedia assumes no obligation to update any forward-looking statements. |
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