PictureTel and First Virtual Communications Finalize Strategic Alliance.Business Editors/Hi-Tech Corridor SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--July 31, 2001 Alliance Expected to Accelerate the Growth of Conferencing See teleconferencing. and Collaboration with Delivery of Powerful End-to-End Rich Media Solutions First Virtual Communications (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 :FVCX), a leading provider of integrated rich media communications solutions for IP and other networks, today announced that it has finalized See finalization. a strategic alliance agreement with PictureTel(R) Corporation (NASDAQ:PCTL PCTL Percentile PCTL Prioritized Candidate Target List ), a leader in integrated collaboration. This definitive agreement formalizes the alliance that was originally announced May 8, 2001. "We're pleased to have completed the definitive agreement with First Virtual Communications. We have already made substantial progress in defining our joint development roadmap and have begun joint sales and marketing activities," said Dr. Norman Gaut, PictureTel's chairman of the board and chief executive officer. "As we address the large and growing market opportunity, this relationship brings together strengths from both companies that will allow us to deliver a comprehensive rich media solution set powered by our iPower(TM) technology and First Virtual's end-to-end Click to Meet(TM) application server technology." The final agreement between PictureTel and First Virtual is a broad-based, strategic technology, marketing and distribution alliance that is expected to deliver the industry's most powerful end-to-end rich media collaboration solution for enterprises and service providers. Through the alliance, the two companies will combine best-of-breed technologies for interactive voice, video, web collaboration, application server integration, and client and server group conferencing. Together, PictureTel and First Virtual intend to provide a flexible and scalable rich media solution that encompasses communications from the meeting room to the desktop. "As always, the key is in execution - the ability to move quickly and gain traction in product development as well as sales and marketing activities," said Andrew W. Davis, managing partner at Wainhouse Research. "The fact that First Virtual and PictureTel have already made strides in each of these areas is encouraging. Jointly they have a spectrum of technologies that address the diverse needs of enterprises. If they can successfully integrate these into one comprehensive product offering, they will be well positioned to compete in the market, increase deployment and gain market share." "As the growth of conferencing and collaboration accelerates, it is increasingly important to deliver a comprehensive solution that is both seamless to deploy and simple to use," said Killko Caballero cab·al·le·ro n. pl. cab·al·le·ros 1. A Spanish gentleman; a cavalier. 2. A man who is skilled in riding and managing horses; a horseman. , 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. of First Virtual Communications. "By combining the expertise, resources and technologies of PictureTel and First Virtual, we expect to offer a fully integrated, end-to-end solution (jargon) end-to-end solution - (E2ES) A term that suggests that the supplier of an application program or system will provide all the hardware and/or software components and resouces to meet the customer's requirement and no other supplier need be involved. Compare: turn-key solution. to enterprises and service providers that leverages existing video communications systems In telecommunication, a communications system is a collection of individual communications networks, transmission systems, relay stations, tributary stations, and data terminal equipment (DTE) usually capable of interconnection and interoperation to form an integrated whole. and extends rich media to the desktop." The two companies have aggressively started executing joint development and marketing activities related to the alliance. Marketing plans, including promotional activities, have been planned and execution has begun for PictureTel to distribute First Virtual's current product offerings. Both parties will distribute the jointly developed products once they are introduced to market. In August, First Virtual will exhibit and showcase its products at the Americas PictureTel User Group (APUG APUG Analog Photography Users Group ) conference in Orlando, Florida The city of Orlando is a major city in central Florida and is the county seat of Orange County, Florida. According to the 2000 census, the city population was 185,951. A 2006 U.S. . Under the terms of the agreement, PictureTel has provided engineering personnel and a license for its PurePoint(TM) rich media communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry . The companies have cross-licensed their unique technologies, including PictureTel's iPower Siren(TM) audio algorithms and People+Content(TM), and First Virtual's software video client, for integration into a robust and integrated end-to-end rich media solution. They have begun integrating PurePoint and iPower into First Virtual's Click to Meet application server, the V-Gate gateway, and the CUseeMe Conference Server and software video client. About PictureTel PictureTel Corporation is the world leader in developing, manufacturing, and marketing a full range of visual- and audio- collaboration platforms An emerging category of computer software, collaboration platforms are unified electronic platforms that support synchronous and asynchronous communication through a variety of devices and channels. . PictureTel markets network conferencing servers in addition to the complete range of end-point products and delivers a global capability to service, support, and provide complete solutions for customers needing rich media communications. PictureTel is fundamentally in the business of eliminating the barrier of distance, enabling people to be Anywhere Now.(TM) About First Virtual Communications First Virtual Communications, recently merged with CUseeMe Networks, is a world leader in providing rich media communications solutions, enabling interactive voice, video and data collaboration See data conferencing. over IP-based networks. First Virtual provides cost-effective, integrated end-to-end solutions for large-scale deployments to enterprise desktops, as well as enabling best of breed seamless video collaboration with IP, ISDN ISDN in full Integrated Services Digital Network Digital telecommunications network that operates over standard copper telephone wires or other media. , and ATM networks. The company's flagship products A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , Click to Meet and CUseeMe(R) Videoware, provide a complete framework for delivering a new generation of video-enabled web collaboration applications that address the real-time communications needs of companies worldwide. The company's desktop conferencing See videoconferencing and data conferencing. solutions can be integrated seamlessly into popular enterprise messaging and collaboration environments such as Microsoft Exchange Messaging and groupware software for Windows from Microsoft. Exchange Server is an Internet-compliant e-mail system that runs under Windows NT/2000 and Windows Server 2003. It can be accessed by Web browsers, the Exchange client, versions of Outlook and the earlier Windows Inbox. . First Virtual serves its global enterprise, service provider and portal customers through a worldwide network of resellers and partners. Additional information about First Virtual Communications can be found on the web at www.fvc.com. PictureTel Cautionary Statement This release includes projections and other forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. about the company's revenues, earnings, and other measures of economic performance. Actual results could differ materially from forecasts due to many factors such as, for example, competitive pressures, changes in technology, the difficulty in forecasting in overseas markets and indirect channels, or changes in or failure to consummate our announced strategic transaction. Additional information concerning risks that could cause actual results to differ is contained in the company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and its Form 10-Q Form 10-Q See 10-Q. as filed with the SEC. The company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. First Virtual Cautionary Statement Except for the historical information contained herein, this news release contains forward-looking statements, including, without limitation, statements containing the words, "believes," "anticipates," "expects" and words of similar import. Such forward-looking statements have known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of First Virtual Communications, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others: the ability of First Virtual Communications and PictureTel to successfully carry out the collaboration, First Virtual Communications' limited operating history as a combined company with CUseeMe Networks, its variability of operating results, First Virtual Communications' broadband video services offering, market acceptance of video technology, First Virtual Communications' dependence on ATM backbone technology, potential inability to maintain business relationships with telecommunications carriers, distributors and suppliers, rapid technological changes, competition and consolidation in the video networking industry, the importance of attracting and retaining personnel, management of First Virtual Communications' growth, and other risk factors referenced in First Virtual Communications' public filings with the Securities and Exchange Commission, including the company's report on Form-10 K for the year ended December 31, 2000 and registration statement on Form S-4, filed with the Securities and Exchange Commission on April 25, 2001, as amended. PictureTel is a registered trademark of PictureTel Corporation. PictureTel900 Series, PictureTel 600 Series, iPower, and Anywhere Now are trademarks of PictureTel Corporation. CUseeMe is a registered trademark and Click to Meet is a trademark of First Virtual Communications. All other terms and products names may be trademark or registered trademarks of their respective owners. |
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