Audio Enhancement Firm Octiv Secures Funding From Intel.Business Editors/High-Tech Writers BERKELEY, Calif.--(BUSINESS WIRE)--Aug. 6, 2001 Octiv(TM) (http://www.octiv.com), a digital audio software company, announced that Intel Capital has made an investment in the company. The terms of the investment are undisclosed. Octiv will use the funds to facilitate the development of applications to improve the quality and performance of digital audio over networks and in portable devices. Octiv's software solutions distill dis·till v. 1. To subject a substance to distillation. 2. To separate a distillate by distillation. 3. To increase the concentration of, separate, or purify a substance by distillation. complex audio processing techniques to a small core that scales from embedded Inserted into. See embedded system. solutions for cell phones to enterprise-wide implementation for streaming media See streaming audio, streaming video and digital media hub. networks. "Octiv's customers are trying to solve audio quality problems caused by the multitude of sources, formats and players currently available," commented Keith McMillen, Octiv's president and 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. . "The funding from Intel Capital will certainly help as we continue our efforts to improve the digital audio experience," added McMillen. Earlier this year, Octiv received $6 million in B-round funding from FG II, Novus Ventures and 3i. About Intel Capital Intel's strategic investment program focuses on making equity investments and acquisitions to grow the Internet economy The Internet Economy refers to conducting business through markets whose infrastructure is based on the Internet and World-Wide Web. An Internet economy differs from a traditional economy in a number of ways, including: communication, market segmentation, distribution costs, and price. , including Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the infrastructure, content and services in support of Intel's strategic interests. For more information, visit www.intel.com/capital. About Octiv Octiv is improving the digital audio experience. The company offers a complete line of embedded and desktop dynamic processing software enhancements that dramatically improve the quality and performance of digital audio for consumer electronics, packet-switched telephony Meaning "sound over distance," it refers to electronically transmitting the human voice. In the beginning, telephony dealt only with analog signals in the circuit-switched networks of the telephone companies. systems and Internet media. The Berkeley-based company was founded in January 2000, by a group of experienced audio industry professionals. The company has received financial backing from 3i, FG II Ventures, Novus Ventures and Nothing But Net. Additional information can be found on the Octiv Web site, http://www.octiv.com. |
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