CogniVue Corporation

CogniVue Corporation

October 12, 2009 19:00 ET

CogniVue Corporation Launched With New Corporate Strategy

CogniVue to Focus on Image Cognition Technology - Cost and Power Competitive Programmable SoCs with Video & Imaging Analytics for Emerging Markets Such as Smart Cameras for Automotive

SEOUL, SOUTH KOREA and OTTAWA-GATINEAU, CANADA--(Marketwire - Oct. 12, 2009) - MtekVision Co. Ltd. ("MtekVision") and MtekVision Canada Ltd. announced today the launch of CogniVue Corporation. MtekVision Canada has changed its corporate name to CogniVue as part of a new strategic focus to provide intelligent imaging based semiconductor solutions for markets such as automotive, portable consumer products and IP video surveillance.

Known for the development of the successful Maple multimedia processor product line for MtekVision, CogniVue will now focus on developing programmable image and video cognition based solutions. A growing number of applications such as cameras in cars for enhancing driver safety and cameras for video surveillance are demanding sophisticated video and image cognition (pattern detection, recognition, and classification). In addition to continuing to design and support custom product development for MtekVision, CogniVue will now offer its own brand of complementary solutions for new emerging applications.

MtekVision and CogniVue have signed comprehensive corporate agreements which provide CogniVue with access to valuable and proven intellectual property which will serve as foundation technology enabling new product development. MtekVision gains access to new technology which will broaden its overall market reach.

CogniVue launches strongly with its patented massively parallel processing technology called APEX™. Virtually any existing computing application that would benefit from a scalable highly parallel architecture is suitable for this technology including multi-standard video and image encoding and decoding, 2D-3D video conversion and image & video analytics processing. Imaging and production expertise from MtekVision combined with the APEX technology will be central to CogniVue's offering for new smart camera based markets. APEX enables CogniVue to architect programmable, cost effective and power efficient intelligent imaging solutions. The flexibility is particularly important for image and video cognition functions which are based on non-standard and often proprietary algorithms.

"The formation of CogniVue is very positive for MtekVision, enabling us to pursue more opportunities in existing and new complementary markets," said Michael Lee, CEO of MtekVision Co. Ltd. "CogniVue is an excellent addition to our well established affiliate strategy which we see bringing new leadership in image and video cognition technology. We look forward to their continued design services support, but also to a new phase in our affiliate partnership."

"The CogniVue name reflects the current focus for the Company and launches a new phase for our team with the goal of penetrating new markets and winning new customers," said Simon Morris, President and CEO of CogniVue Corporation. "We are well positioned for success and confident given our proven abilities in multimedia and SoC processor design. Combined with our strong affiliate design services partnership with MtekVision, we have a solid base for building a new high growth business."

"CogniVue's focus on image and video cognition processing is timely as there is a rapidly growing demand in many markets for pattern detection and identification solutions," said Will Strauss, Principal Analyst for Forward Concepts. "Their programmable technology has the promise to match the emerging requirement in the automotive market for innovative solutions to combine multiple car data sensor data and high performance intelligent image detection, tracking and recognition."

About CogniVue Corporation

CogniVue Corporation is a fabless semiconductor company with a focus on processor solutions tailored for image and video cognition. In particular CogniVue develops low-power multimedia centric SoCs and software for markets such as automotive, portable consumer devices and IP video surveillance. Founded in 2005, CogniVue is a privately held company headquartered in Ottawa-Gatineau, Canada. For more information, please visit www.cognivue.com.

About MtekVision Co. Ltd.

MtekVision Co. Ltd. (MTV) is a fabless semiconductor solution provider that develops innovative multimedia processing and image device IC solutions for mobile and portable devices. MtekVision provides a one-stop solution in meeting customers' needs with System-on-Chip (SoC) design, software platforms, development tools, system solutions and comprehensive technical support. MtekVision is Korea's largest fabless semiconductor company and has shipped over 300 million chips. Founded in 1999, MtekVision is headquartered in Seoul, Korea with offices world-wide. For more information, please visit www.mtekvision.com.

(C) Copyright 2009 CogniVue Corporation. All rights reserved. Information subject to change without notice.

MtekVision is a trademark of MtekVision Co. Ltd. CogniVue is a trademark of CogniVue Corporation. All others mentioned herein are property of their respective owners.

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