Celartem Technology USA, Inc. to Acquire LizardTech, Inc.; Digital Content Developments Planned for Document Imaging and Geospatial Markets.========================= Embargo embargo (ĕmbär`gō), prohibition by a country of the departure of ships or certain types of goods from its ports. Instances of confining all domestic ships to port are rare, and the Embargo Act of 1807 is the sole example of this in ================================== (X) No ( ) Yes Time and date of distribution, if embargoed Embargoed is a UK based human rights organisation campaigning to bring an immediate and unconditional end to all embargoes against the people of Northern Cyprus. Embargoed does not proscribe any political remedy, but considers the embargoes on the people of Northern Cyprus to be : _______________________ ========================= Translation Needed ======================= (X) Summary Spanish translation (with all regional circuits) ( ) Summary Portuguese translation (with Euronext distribution) ( ) Full-Text Spanish ( ) Full-Text Portuguese ==================================================================== E-SHEET NUMBER INFORMATION: ( ) No E-sheet number included (since there is no English version of this release for the foreign-language versions to link to on the BW.com site) ==================================================================== ( ) Translation approval required __________________________________ (NOTE TO Iberonews: If client requests translation approval, please send a copy of any correspondence regarding the approval process to trans.approval@businesswire.com for Business Wire's files) ( ) SPECIAL INSTRUCTIONS (explain): ________________________________ ____________________________________________________________________ ========================= Press release text======================== Business Editors/High-Tech Writers NEW YORK--(BUSINESS WIRE)--June 20, 2003 Celartem Technology USA, Inc. today announced that it had reached a definitive agreement to acquire LizardTech, Inc., a developer of software and services that dramatically increase the value of complex digital content, and a standard bearer an officer of an army, company, or troop, who bears a standard; - commonly called color sergeantor color bearer; hence, the leader of any organization; as, the standard bearer of a political party s>. See also: Standard in the geospatial Geospatial is a term widely used to describe the combination of spatial software and analytical methods with terrestrial or geographic datasets. The term is often used in conjunction with geographic information systems and geomatics. imaging arena. Celartem Technology USA, Inc. is wholly owned by Japan's Celartem Technology, Inc. (Hercules:4330), which provides digital image and secure content distribution solutions. The addition of LizardTech's core technology and applications furthers Celartem's vision to consolidate and develop technology to simplify and enhance the creation, management, control and distribution of digital content. The acquisition puts Celartem in a strong position to change the existing definition of digital content to encompass both images and digital document content -- to include fonts, images and a variety of related document elements. "Celartem is aggressively working toward landmark product development for the overall imaging industry," said Jiro Shindo, chairman, Celartem Technology, Inc. "Bringing LizardTech under the Celartem Group banner vaults us ahead in our efforts to offer a wider range of high-end imaging and distribution products for digital content owners, distributors and users." "Our core technology for imaging and distribution is a natural fit with LizardTech's products," added Osamu Ikeda, president, Celartem Technology USA. "We are especially excited about what this will mean for a variety of industry markets moving forward." LizardTech, Inc. employs 29 people and is being acquired for $11.25 million in cash. Under terms of the agreement, LizardTech will operate as a separate unit within the Celartem Group of companies and will be known as "LizardTech Inc., a Celartem Company." LizardTech will maintain its existing U.S. operations headquartered in Seattle and European efforts based in London. Over time, R&D and sales operations will be merged with existing Celartem efforts in Europe and Japan. Celartem Group officers and board of directors will oversee LizardTech operations, as well as for Extensis, the other existing Celartem Group subsidiary. "Celartem and LizardTech share a passion for imaging and document technology," said Case Kuehn, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , LizardTech. "The winning combination of product assets, operational resources and combined global reach will deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. our image and distribution offerings to provide immediate and long term benefits for our customers worldwide -- especially within the geospatial arena." LizardTech offers several innovative imaging and geospatial technologies Geospatial Technology, commonly known as geomatics, refers to technology used for visualization, measurement, and analysis of features or phenomena that occur on the earth. and there are no expected short-term changes to the existing product and technology brands being used by LizardTech. MrSID (Multi-resolution Seamless Image Database) is the defacto standard image format in the geospatial imaging field; the GeoExpress line of products based on MrSID offers additional geospatial capabilities. LizardTech's DjVu is a powerful workflow enabler for the general document imaging market. Document Express with DjVu is the company's document imaging solution widely used in the US, throughout Europe and also in Japan, by global enterprises that require distribution of business-critical content over any network, including narrowband In communications, transmission rates up to T1 speeds (1.544 Mbps). The upper limit is moving target. At one time, narrowband meant 150 bps (that is 150 bits per second!). Then, the upper limit became 2,400 bps. Later, it moved to 64 Kbps. Contrast with wideband and broadband. and wireless. Combined and expanded product development efforts moving forward will address a broad range of needs for creative professionals, the defense industry, as well as the publishing and imaging markets. "The synergy of Celartem and LizardTech technologies not only accelerates the momentum of LizardTech solutions, it further strengthens the customer care elements of our product offerings," said Karen Morley, vice president of Geospatial Imaging, LizardTech, Inc. "The combination of our technologies and Lizardtech's strong support for the defense market will allow us to offer more powerful imaging tools to this important community and will also help us grow our participation in geospatial industry activities such as Open GIS (1) (Geographic Information System) An information system that deals with spatial information. Often called "mapping software," it links attributes and characteristics of an area to its geographic location. Consortium (OGC OGC Office of Government Commerce (UK government) OGC Open Geospatial Consortium, Inc. OGC Office of the General Counsel OGC Open GIS Consortium, Inc. )." "As another of the Celartem Group's portfolio companies, Extensis is thrilled about what this means for combined future product developments,"said Kevin Hurst, vice president of marketing, Extensis. "With this related group of technologies, the overall imaging industry can expect to see some truly inventive in·ven·tive adj. 1. Of, relating to, or characterized by invention. 2. Adept or skillful at inventing; creative. in·ven products over time." Final acquisition arrangements will be completed in July 2003. About Celartem Celartem Technology Inc. was established in 1996 to research, develop and market storage and distribution technologies for digital images. Celartem has developed technology for digital image compression Noun 1. image compression - the compression of graphics for storage or transmission compression - encoding information while reducing the bandwidth or bits required , scaling, secure distribution and management. Celartem is headquartered in Tokyo with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Paris and also operates in the US and Europe through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Extensis, Inc. Celartem is listed on the Osaka Securities Exchange Osaka Securities Exchange (OSE) Established after World War II, one of the three major securities markets in Japan. , Hercules Market (Hercules: 4330). Please visit http://www.celartem.com for more information. About LizardTech LizardTech is a private company, formed in 1992 to build valuable business solutions from technologies created by the world's leading research organizations including Los Alamos National Laboratory Los Alamos National Laboratory (LANL) (previously known at various times as Site Y, Los Alamos Laboratory, and Los Alamos Scientific Laboratory) is a United States Department of Energy (DOE) national laboratory, managed and operated by Los Alamos National (LANL LANL - Los Alamos National Laboratory, Los Alamos, NM, USA. ) and AT&T Labs. LizardTech's software is installed on millions of desktops and integrated into a wide variety of platforms and applications. LizardTech has offices in Seattle, London and Tokyo. Please visit http://www.lizardtech.com. Registered trademarks and service marks are the property of their respective owners. |
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