Digital Interactive Streams, Inc. Closes $4 Million Series A Preferred Stock Equity Financing.Business Editors JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 13, 2003 Digital Interactive Streams, Inc. (DiStream), the premier provider of technology and software for delivering on the promise of high quality, low bandwidth streaming video, today announced the closing of a $4,000,000 equity financing. The Series A investment was provided by DigaComm L.L.C., Crossbow crossbow: see bow and arrow. crossbow Leading missile weapon of the Middle Ages, consisting of a short bow fixed transversely on a stock, with a groove to guide the missile and a trigger to release it. Ventures, and other investors. The funding provides the capital for the roll out of DiStream's suite of software and additional working capital. DiStream's breakthrough Digital Video Enhanced Television (DiVET(TM)) technology enables the company's customers to achieve greater compression of the video payload while correcting the usual artifacting that occurs through post CODEC error correction. This innovation by DiStream represents a major advance in the presentation of digital media suitable for a variety of applications across industry sectors ranging from consumer electronics to the automotive, healthcare, and defense industries. DiStream is the first company to offer a complete suite of secure software platforms for the encoding, Digital Rights Management (DRM (1) (Digital Radio Mondiale) A digital audio broadcasting (DAB) system for AM radio in Europe. See HD Radio. (2) (Digital Rights M ) and automated management and delivery of digital video broadcast and on demand services. Mr. Kelly S. Moore, a Managing Director of DigaComm L.L.C. and a Board member since June of 2001, said "DigaComm has been pleased to be the financing sponsor during the past 18 months of development, and we now look forward to working together with our new Investor and Commercialization Partner, Crossbow Ventures and BTG BTG BIT (Built-In Test) Target Generator BTG Bridging the Gap BTG British Technology Group BtG Betreuungsgesetz (Germany) BTG Biomass Technology Group BV BTG Begbies Traynor Group , in commercializing DiStream's promising technology." Mr. Matt Shaw, a principal of Crossbow Ventures who will join the company's Board of Directors, remarked, "Crossbow is excited about our recent investment in DiStream. We believe they have developed a cutting edge software platform and a blue chip partnership group which includes industry leaders such as BTG and DigaComm." Royal O'Brien, DiStream's 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. said, "the company is now prepared for the transition from a research-based company to a commercially driven organization with multiple revenue generating product areas." About Digital Interactive Streams Privately held, DiStream is paving the way for the convergence of today's low cost PCs with Digital Television for tomorrow's complete media center. DiStream's DiVET(TM)is the breakthrough software product that enables the delivery of high quality full screen display of video on demand utilizing available consumer broadband connections such as DSL DSL in full Digital Subscriber Line Broadband digital communications connection that operates over standard copper telephone wires. It requires a DSL modem, which splits transmissions into two frequency bands: the lower frequencies for voice (ordinary and two-way cable. The Company's software suite also contains all the modules to create a complete secure integrated media center, including: Video on Demand, Audio on Demand, web access, and interactive gaming. DiStream is partnering with the world's leading media companies to provide the enabling software and expertise to deliver the highest quality video and services at the lowest possible bandwidth and cost. The firm is based in Jacksonville, FL and can be found on the Internet at http://www.distream.com. About DigaComm L.L.C. DigaComm L.L.C., a Chicago private investment firm, leads early stage technology venture capital rounds and initiates buyout transactions. The firm's investing members, prior to DigaComm's formation and thereafter, have achieved superior rates of return over the past twenty years in closing thirty buyout and add-on transactions and twelve venture capital investments. More information can be found on the Internet at http://www.digacomm.com. About Crossbow Ventures CrossBow Ventures is a West Palm Beach, Florida West Palm Beach, also known as West Palm, is the most populous city in Palm Beach County, Florida, USA. The city is also the oldest incorporated municipality in South Florida. According to the University of Florida's 2006 estimates, the city had a population of 107,617. based venture capital firm managing $160 million on behalf of European and American institutions. Crossbow concentrates its lead investments in the Southeastern United States and co-invests with a number of other venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: across the US. Crossbow typically invests in industries such as Information Technology, Telecommunications, Life Sciences/Healthcare and Financial Services/Transaction Processing. Information on Crossbow Ventures can be found at www.cb-ventures.com. About BTG BTG finds, develops and commercializes emerging technologies in the life and physical sciences. These innovations are protected by a strong portfolio of intellectual property that BTG develops and enhances. BTG then captures the value in these technologies through licensing and venturing activities. From the origins of its business in 1949, BTG has commercialized major innovations such as Magnetic Resonance Imaging magnetic resonance imaging (MRI), noninvasive diagnostic technique that uses nuclear magnetic resonance to produce cross-sectional images of organs and other internal body structures. (MRI 1. (application) MRI - Magnetic Resonance Imaging. 2. MRI - Measurement Requirements and Interface. ), recombinant factor IX blood-clotting protein, Campath(R) (alemtuzumab) and Multilevel mul·ti·lev·el adj. Having several levels: a multilevel parking garage. Adj. 1. multilevel - of a building having more than one level Cell (MLC (MultiLevel Cell) A flash memory technology that stores more than one bit per cell. Traditional flash memory defines a 0 or 1 bit based on a single voltage threshold. ) memory. BTG is quoted on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. under the symbol "BGC BGC General Cable Corporation (stock symbol) BGC Billy Graham Center BGC Baptist General Conference (formerly Swedish Baptist Denomination) BGC Boys & Girls Club BGC Bubblegum Crisis " and operates from offices in London and Philadelphia, with representation in Tokyo. BTG operates through wholly owned subsidiaries, BTG International Ltd. and BTG International Inc. in the UK and USA, respectively. Further information on BTG can be found at www.btgplc.com. |
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