PLATINUM technology and Platinum Venture Partners invest in VREAM; PLATINUM plans virtual reality interfaces on software products and on Web.
PLATINUM also intends to deploy VREAM's data visualization and VR (virtual reality) interface technology in its POEMS systems management console to be released later in 1996. This technology will enable POEMS users to view networks and systems in a real-time, interactive mode that will allow three dimensional displays of events and system objects. As a result, administrators will be able to interact with a "living" VR model to better comprehend, control and manage the complex interrelationships found in dynamic enterprises.
PLATINUM says it plans to license and utilize the VREAM technology in its own product line because of the revolutionary nature of VREAM's virtual reality technology and its ability to seamlessly integrate with the World Wide Web. VREAM's technology is currently used within their virtual reality Web browser called WIRL. Within a Web based virtual world, WIRL allows users to experience, manipulate and interact with objects that have real-world behaviors. For example, a user can throw a ball across a room and watch it bounce, or turn on a television set and watch a video playing within the virtual world.
VREAM's investors believe that someday multiple participants over the Web will be able to interact in a real time virtual environment with VREAM products. Just as virtual meetings are held today via videoconference, soon the technology will be ready to enable a room full of Web users from around the world to communicate in a 3D, interactive, real time (updated instantaneously) environment.
"We are thrilled to have the backing of such an important software company as PLATINUM technology," said Edward LaHood, president of VREAM. "PLATINUM has the reputation in the IT industry of bringing visionary products to market, and VREAM's corporate history reflects that same path. Together, we hope to revolutionize corporate and Internet computing."
"We've explored the competition and can confidently say that VREAM's technology is the most advanced in the category of data visualization, particularly in the Internet environment," said Andrew Filipowski, president and CEO of PLATINUM technology, inc. "What's more, VREAM's WIRL provides the most practical way of bringing virtual reality to the Internet environment. We plan to exploit VREAM in our own products, providing support for the Internet as a growing IT platform. Two dimensional GUIs are great for things like word processing, but the enterprise isn't flat like a sheet of paper, you need that third dimension. We also believe that VR interfaces will follow GUIs as the next standard embraced by corporate and personal computing, and feel that VREAM is leading the technology development race in this area already."
"We are pleased to invest in VREAM with PLATINUM technology as part of our commitment to partnering with innovative companies in our Internet investment strategy. With VREAM, we add a revolutionary company to our portfolio of Internet investments, one whose technology can truly alter the interface and enhance the experience of the World Wide Web," said Mike Santer, a Partner of Platinum Venture Partners.
Founded in 1991 with the objective of bringing virtual reality to the mass market, VREAM, Inc. is a leader in the areas of virtual reality and 3D interactive software. The company produces VRCreator, a development tool that allows developers to build virtual reality interfaces, Web pages, and applications; and WIRL, a virtual reality browser that works through popular Web browsers such as Netscape to allow virtual reality worlds to be experienced over the Web; and VREAM Services, a division of the company that provides development services for virtual reality Web pages and applications. VREAM, Inc. can be contacted through its Web site at www.vream.com, where one can download a free version of WIRL and use it to experience true virtual reality sites on VREAM's Web page and other locations on the World Wide Web.
About PLATINUM technology
Founded in 1987, PLATINUM technology, inc. (NASDAQ:PLAT), delivers the payoff on information technology (IT) investments by providing tools that enable organizations to efficiently manage next-generation computing solutions while leveraging existing and legacy systems. The company provides application development, business intelligence, database administration, data warehousing, and systems management software solutions for the Open Enterprise Environment (OEE) -- the networked computing environment that incorporates mainframe, desktop, and open systems. PLATINUM technology can be contacted through its Web site at www.platinum.com.
About Platinum Venture Partners
Platinum Venture Partners, founded in 1992, is a venture capital company that provides capital to entrepreneurs from its $60 million pool of funds raised from successful entrepreneurs and CEOs around the country. Platinum Venture Partners invests in the information technology industry with a focus on Internet related software companies. The company can be reached at (708) 620-5000, or via its Web site at www.platinum.com/pvp.html.
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CONTACT: PLATINUM technology, inc., Oakbrook Terrace, Ill.
Michelle Edelman, 708/620-5000, ext. 1730
Ken Gaebler, 312/477-0425
Platinum Venture Partners, Oakbrook Terrace, Ill.
Mike Santer, 708/620-5000, ext. 1518