Cendant Corporation Signs Agreement With Interactive Pictures for IPIX Virtual Home Tours On Cendant Real Estate Brand Sites and the Anticipated Portal Site.OAK RIDGE Oak Ridge, city (1990 pop. 27,310), Anderson and Roane counties, E Tenn., on Black Oak Ridge and the Clinch River; founded by the U.S. government 1942, inc. as an independent city 1959. , Tenn.--(BUSINESS WIRE)--Aug. 24, 1999-- Coldwell Banker(R), CENTURY 21(R), ERA(R) Brokers and Agents Continue to Showcase Properties with Leading Virtual Home Tour Technology Interactive Pictures Corporation (Nasdaq:IPIX IPIX Interface Processor for Imagery Exchange ), a world leader in immersive imaging for the Internet, announced today that Cendant Corporation (NYSE NYSE See: New York Stock Exchange :CD) and Interactive Pictures have entered into a three-year agreement for IPIX "virtual tour" technology to be displayed on the three Cendant real estate brand web sites and on the anticipated real estate internet portal site Noun 1. portal site - a site that the owner positions as an entrance to other sites on the internet; "a portal typically has search engines and free email and chat rooms etc. currently under development by Cendant. Under the agreement, IPIX Virtual Tours Virtual Tours The phrases panoramic tour and virtual tour are often used to describe a variety of video and photographic based media. The word panorama indicates an unbroken view, so essentially, a panorama in that respect could be either a series of photographs or panning video and IPIX Camera Kits will be exclusively recommended and promoted to the franchisees of the Coldwell Banker(R), CENTURY 21(R) and ERA(R) real estate brokerage systems. IPIX Virtual Tours will benefit not only home buyers, but also real estate professionals by providing the most advanced way to view and list homes online. "Industry excitement is building around Cendant's soon-to-be created real estate internet portal site and the integration of IPIX Virtual Tours will help make it a best in class site. The success our brokers and agents have had with IPIX Virtual Tours has proven that this is an additional competitive weapon for the real estate franchisees of our three real estate brokerage systems," said Richard Smith Richard Smith is the name of:
Interactive Pictures delivers a digital photography solution providing a completely "immersive" photographic experience. For potential buyers, IPIX virtual tours feature multi-room navigation in which views from floor to ceiling and around all four walls can be captured in a 360-degree by 360-degree image. For agents and brokers, IPIX delivers a unique listing tool. With an easy to use digital camera package, even a novice can create a virtual tour outlining the best views of a home or property. Professionals within the real estate industry can today leverage an easy and interactive selling tool which can be used to list multiple properties in detail, and post them to multiple web sites for no additional charge. Real estate web sites showcasing IPIX(TM) technology include Rent Net, Coldwell Banker, ERA, CENTURY 21, Prudential, Homes.com, RE/MAX RE/MAX Real Estate Maximums (Canada) , Trump Real Estate, Rubloff Real Estate, First Residential, the Corcoran Group, Realtor.com, MSN (1) (MicroSoft Network) A family of Internet-based services from Microsoft, which includes a search engine, e-mail (Hotmail), instant messaging (Windows Live Messaging) and a general-purpose portal with news, information and shopping (MSN Directory). HomeAdvisor and Koenig & Strey sites and the anticipated Cendant real estate portal site. "Our ability to display IPIX images on the anticipated internet portal site, coupled with our exclusive marketing rights to the Cendant real estate brands positions Interactive Pictures to accelerate industry-wide adoption of IPIX Virtual Tours," said Jim Phillips, Chairman 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. of Interactive Pictures. "Working with a world-class leader like Cendant and its real estate brokerage systems extends IPIX's lead in providing the best virtual tours for both potential buyers and real estate agents. Virtual tours using IPIX(TM) images give viewers unrestricted viewing and reproduce environments exactly as a person would see if they were standing in the location. We are excited to build on the success Coldwell Banker, CENTURY 21 and ERA brokers and agents had over the last eighteen months and anticipate IPIX Virtual Tours to differentiate the proposed internet portal site under development by Cendant." Interactive Pictures and Cendant's working relationship dates back to 1996 when Interactive Pictures was selected as the provider of virtual tour technology utilized by Rent Net. Under a 1998 Preferred Alliance Agreement with Cendant Corporation for its Coldwell Banker, CENTURY 21, and ERA real estate brokerage systems, Interactive Pictures began marketing its IPIX Virtual Tours technology to the franchisees of such real estate systems across the country. Interactive Pictures' exclusive Preferred Alliance Agreement was recently renewed in July for a three year term. Now, in addition to the IPIX Virtual Tours listed on www.coldwellbanker.com, www.century21.com and www.era.com, consumers will be able to experience IPIX on the anticipated Cendant internet portal site. Rent Net, a user of IPIX technology, is an online apartment guide with a database of more than 3 million rental units throughout the U.S. Since employing IPIX technology on its web site in June 1996, Rent Net has seen significant increases in traffic for listings enhanced with IPIX(TM) images. "By using IPIX images, Rent Net has been able to offer millions of relocating renters the ability to take virtual walk-throughs of model apartments. Rent Net has seen up to a 67% increase in traffic to those properties using IPIX Virtual Tours," said Jed Katz, founder of Rent Net and COO of Cendant's Real Estate portal. "Based on our experience with the IPIX technology, it will have a substantial impact on residential properties similar to what we have seen in rental properties." IPIX images allow buyers to view a property via the Internet as they would if they were actually there. Unlike other services that only offer a limited panoramic view, IPIX virtual tours provide a complete 360-degree by 360-degree field of view, from the skylight above to the beautiful hardwood floors below, and around all four walls. IPIX images capture the ambiance am·bi·ance also am·bi·ence n. The special atmosphere or mood created by a particular environment: "The noir ambience is dominated by low-key lighting . . . of a room including ceiling angles, the texture of the walls and available lighting from windows. About Cendant Corporation Cendant Corporation is a global provider of consumer and business services. The Company's core competencies include building franchise systems, providing outsourcing solutions and direct marketing. As a franchisor, Cendant is among the world's leading franchisors of hotels, rental car agencies, tax preparation services Tax preparation services Firm that prepare tax returns for a fee. and real estate brokerage offices. The real estate segment also includes Welcome Wagon/GETKO and the Company's soon-to-be created residential real estate services portal on the Internet. As a provider of outsourcing solutions, Cendant is the world's largest vacation exchange service; a major provider of mortgage services to consumers and the global leader in employee relocation. In direct marketing, Cendant provides access to insurance, travel, shopping, auto, and other services, primarily to customers of its affinity partners. Other business units include NCP (1) (Network Control Program) See SNA and network control program. (2) (NetWare Core Protocol) The file sharing protocol used in a NetWare network. , the UK's largest private car park operator, and Wizcom. Headquartered 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 , NY, the Company has more than 30,000 employees and operates in over 100 countries. More information about Cendant, its companies and brands may be obtained by visiting our Web site at www.cendant.com or by calling 877/4INFO-CD (877/446-3623). About Interactive Pictures Corporation With technology originally developed on behalf of NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. and the U.S. Department of Energy as a means to provide total remote viewing of hazardous environments, an IPIX places viewers in the center of a picture, and allows them to navigate the environment in real time as if they were teleported into that space. IPIX is an easy to use and affordable photography solution that delivers a completely immersive 360 x 360 degree photographic experience providing interactive, spherical images. An IPIX takes the viewer from earth to sky, floor to ceiling and horizon to horizon, all from two simple opposing photographs captured by a fisheye fish·eye adj. 1. Of or being a wide-angle photographic lens that covers an angle of about 180°, producing a circular image with exaggerated foreshortening in the center and increasing distortion toward the periphery. 2. lens and seamlessly blended together. Interactive Pictures has helped numerous organizations create virtual tours and enhanced digital marketing/electronic commerce efforts for many leading companies including Microsoft, Disney, Hilton Hotels, Toyota, Intel, National Geographic, RentNet, Coldwell Banker Corporation, CNN CNN or Cable News Network Subsidiary company of Turner Broadcasting Systems. It was created by Ted Turner in 1980 to present 24-hour live news broadcasts, using satellites to transmit reports from news bureaus around the world. , The New York Times, The New York Times, The Morning daily newspaper, long the U.S. newspaper of record. From its establishment in 1851 it has aimed to avoid sensationalism and to appeal to cultured, intellectual readers. Chicago Tribune, Discovery Communications, the NFL NFL abbr. National Football League NFL (US) n abbr (= National Football League) → Fußball-Nationalliga and the NBA NBA abbr. 1. National Basketball Association 2. National Boxing Association NBA (US) n abbr (= National Basketball Association) → Basketball-Dachverband (= . Interactive Pictures maintains corporate headquarters in Oak Ridge, Tenn. and San Jose, Calif. For more information on Interactive Pictures products visit www.ipix.com. Interactive Pictures and IPIX are trademarks of Interactive Pictures Corporation. All other trademarks and registered trademarks are the property of their respective owners. This press release contains forward-looking information within the meaning of Section 27A of the securities Exchange Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbors created by those sections. Actual results may differ materially. The matters discussed in this press release also involve risks and uncertainties described from time to time in Interactive Pictures Corporation's filings with the Securities and Exchange Commission (SEC). In particular, see "Risk Factors" in the Final Prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. included in the Company's Registration Statement on Form S-1 declared effective by the SEC on August 4, 1999 (http://www.sec.gov). |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion