Concurrent Computer Corporation and Scientific-Atlanta Inc. Definitize Agreement to Jointly Attack the Growing Demand for Residential Video-On-Demand.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Sept. 1, 1998-- -- Cable companies lining up for video-on-demand technology; initial deployment scheduled for fourth quarter of calendar year 1998, first quarter 1999 Concurrent Computer Corporation  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . announced today that it has entered into a definitive agreement with Scientific-Atlanta, Inc. to jointly develop and supply full function true video-on-demand systems to meet the growing market demand from cable operators for this technology. Video-on-demand provides the means for entry by the cable companies into the $17 billion video store rental and sales business. With more than 75 million homes in America subscribing to cable television, 25 million of which currently subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; premium services, the cable industry plans to spend approximately $2 billion over the next five years to provide this capability. "The days of going to the video rental store and not having the movie you want available, and then being charged rewind fees and late charges are now over," said E. Courtney Siegel, Concurrent's Chairman, President and Chief Executive Officer. "This technology enables consumers to have access to movies from the comfort of their own home, whenever they want it." Key points of the agreement are: -Scientific-Atlanta received warrants for 2,000,000 shares of Concurrent Computer Corporation common stock, exercisable at $5.00 per share over a four-year term. -Scientific-Atlanta will receive warrants for approximately 800,000 additional shares of Concurrent Computer Corporation common stock, exercisable at 85% at the then current market price, for every $30 million in revenue that Concurrent Computer receives from sales of their video server product for use with the Scientific-Atlanta network. Maximum performance warrants eligible are 8.0 million shares, which equates to over $300 million in video server product revenue for Concurrent Computer. -Concurrent Computer will become certified by Scientific-Atlanta as a video-on-demand supplier to their network. -Concurrent Computer will receive early development releases from Scientific-Atlanta. -Scientific-Atlanta and Concurrent Computer will conduct joint marketing and sales calls. Concurrent Computer Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCUR CCUR Center for Crops Utilization Research ) (http://www.mediahawk.com), headquartered in Fort Lauderdale, Florida Fort Lauderdale, known as the "Venice of America" due to its expansive and intricate canal system, is a city in Broward County, Florida, United States. The city's population is described as metropolitan, where diverse culture is commonplace. According to 2006 U.S. , is a leading supplier in the emerging digital video server marketplace. This market includes the hospitality, residential, corporate training, and in-flight entertainment In-flight entertainment (IFE) refers to the entertainment available to aircraft passengers during a flight. After World War II commercial aviation flights became a daily event in which entertainment was requested by passengers to help the time pass. industries. Operating in 32 countries worldwide, Concurrent provides sales and support from offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Europe, Asia, and Australia. Certain matters discussed in this news release are forward-looking statements involving certain risks and uncertainties including, without limitation, changes in product demand, changes in competition, economic conditions, various inventory risks due to changes in market conditions and other risks.
CONTACT: Concurrent Computer Corporation
Beth Alonzo, 954/973-5100
(Fax) 954/973-5253
Beth.alonzo@mail.ccur.com
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