International Datacasting Corporation

International Datacasting Corporation

March 08, 2010 08:35 ET

International Datacasting Corporation Announces Appointment of New Chairman of the Board; Resignation of Certain Directors

OTTAWA, ONTARIO--(Marketwire - March 8, 2010) -

Attn: Business/High-Tech Editors

International Datacasting Corporation (TSX:IDC), a global leader in providing advanced solutions for the distribution of broadband multimedia content, announces that Denis Colbourne, Stuart Smith and Kevin Rankin have resigned from the Board of Directors and that Adam Adamou has been named Chairman of the Board. The Board now consists of Mr. Adamou as Chair, Fred Godard as President & CEO, Frank Ruffolo, Del Lippert and Ron Clifton.

"We wish to extend our thanks to Denis Colbourne and Stuart Smith for their contribution and service to our customers and shareholders over the past decade, and to Kevin Rankin over the last two and a half years. IDC has developed a tremendous product strength and market respect in its core segments, including broadband multimedia distribution. We will be building upon that strength to move the Company into an exciting new phase of its development. We would like to also thank our shareholders, employees and customers for their support during this transition. We are moving to optimize our operations in order to better serve your interests now and well into the future," said Adam Adamou, Chairman of the Board of Directors.

About International Datacasting Corporation (IDC)

International Datacasting Corporation (TSX:IDC) is a global leader in providing IP-based datacasting solutions for the distribution of broadband multimedia content. IDC has a broad portfolio of advanced technology products marketed under the names SuperFlex, Datacast XD, Tiernan and PROFline for implementing a wide range of satellite and other broadband content contribution and distribution networks. IDC's products are in demand for radio and television broadcast networks, distance learning, digital satellite news gathering and sport contribution, digital signage, digital cinema, IPTV distribution and other content distribution applications. IDC is headquartered in Ottawa, Canada, operates in Europe through its wholly owned subsidiary PROFline B.V. in Arnhem, the Netherlands and in the US through its Tiernan operations in San Diego, California. The Company is international in scope with installations in over 100 countries worldwide, has regional sales and service offices in the UK, Australia, Singapore and China as well as an established international network of value-added partners and distributors.

About Adam Adamou

Adam E. Adamou serves as President & Managing Partner of Caseridge Capital Corporation, a Toronto based specialty investment firm. Mr. Adamou is an experienced investor, banker and advisor to technology companies across Canada with a principal involvement as a venture capitalist or investment banker in funding Canadian technology companies such as Research in Motion Ltd. (TSX:RIM) and Absolute Software Corporation (TSX:ABT). Over the course of his career Mr. Adamou has served as a Director on a number of public and private company boards, including Secure Computing Corporation, Border Networks Inc., Softquad International Inc., Nuvo Networks Inc and Taurus Capital Markets Inc. Mr. Adamou is a Chartered Financial Analyst and holds a Bachelor of Commerce degree from the University of Toronto.

This press release contains forward-looking statements that may involve risks and uncertainties. Actual results may differ materially. Factors that might cause a difference include, but are not limited to, competitive developments, risks associated with IDC's growth, any difficulties with integrating acquired product lines into IDC's business and/or manufacturing procedures, the development of the satellite datacasting market, regulatory risks, intellectual property infringement and other factors. IDC assumes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect IDC's financial and business results is included in the public documents IDC files from time to time with Canadian securities regulatory authorities.

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