SOURCE: Network Foundation Technologies, LLC

November 19, 2007 09:00 ET

Louisiana's Network Foundation Technologies Announces More Growth in the State

SHREVEPORT, LA--(Marketwire - November 19, 2007) - Network Foundation Technologies (NFT) today announced substantial growth in the State. In addition to opening a sales and marketing office in Shreveport at the Intertech Science Park's Bio Space 1 building located at 2031 Kings Hwy, NFT is rapidly expanding its work force.

Founded in 2001, NFT (www.NFT-TV.com) is headquartered in Ruston, Louisiana, on the Campus of Louisiana Tech University. The company is best known for its "NiFTy Online Television" product that makes possible long-form, advertiser-supported, television-style online broadcasts through the use of a revolutionary technology that dramatically reduces online broadcasting costs. By reducing bandwidth costs, NFT offers broadcasters a cost effective and profitable way to distribute both live and pre-recorded content to viewers in a "FREE-For-View" ad supported manner.

Although Louisiana has not historically been known for its "high-tech" sector, that all began to change at the end of 2005, when the State Legislature passed the Angel Tax Incentive Bill to provide those who invest in approved Louisiana-based technology companies tax credits worth up to 50% of their investment. NFT was one of the very first companies to be approved to participate in this Angel Tax incentive program. The company's President and Co-Founder, Marcus Morton, sees the Angel Tax Incentive program as a critical enabler for NFT's growth over the past three years -- from a handful of employees to its current size of approximately 30. "The Angel Tax Incentive program has been an enormous help in both expanding our company and helping Louisiana attract and retain highly skilled software developers and engineers," said Mr. Morton.

Shreveport Mayor Cedric Glover, who worked to help pass the Angel Tax Incentive program into law when he was a member of the Louisiana State Legislature, was delighted to hear of the company's growth. "These types of high-tech, high-paying, environmentally friendly jobs are an essential part of Shreveport's future and NFT is precisely the type of company that the Angel Tax Incentive Program was designed to help grow," Mayor Glover said.

As part of this growth, NFT's President and Co-Founder, Marcus Morton, who splits his time between the company's Los Angeles offices and its Louisiana offices, also announced the hiring of Apple Computer alumni Michael Chin as NFT's new Vice President of Operations. "We are very excited to add Michael Chin to our team. His extensive experience in the technology sector will be invaluable as we continue to grow." Starting his career in "high tech" in 1988 at Norton Utilities (now SYMANTEC), Mr. Chin has an extensive career in the industry, most recently with Apple Computer, where he was Director of World Wide Sales BPR for five years. In that position, he was responsible for building Apple's strategic roadmap for global sales. "Having spent most of my career in California's Silicon Valley at its heyday, it is very exciting to now be with a company like NFT that is leading the growth of Louisiana's new Silicon Bayou." Mr. Chin will split his time between NFT's Shreveport and Ruston Louisiana offices.

"With all of the excitement about Cyber Command in the area, it is good to keep in mind that there is a growing 'high-tech' base in the State of Louisiana and particularly here in North Louisiana," Mayor Glover said.

NFT is in the business of broadcasting high-profile events and 24 hour channels to global audiences. For example, for the next two weeks the company will be broadcasting The International Baseball Federation's (IBAF) 37th Baseball World Cup from Taipei, Taiwan. This event, which brings together all star teams from countries all over the world, promises to be an exciting event. Closer to home, this year NFT is broadcasting all of the Central Hockey League's games, including those featuring the Bossier-Shreveport Mudbugs. Other events of local and regional interest have included the Barksdale Air Force Base Air Show and the Miss Louisiana Pageant. In order to watch games from the 37th Baseball World Cup or catch CHL Mudbug's action, simply go to the NiFTy Online Television website at http://www.NiFTy-TV.com and click on the appropriate banner.

"At NFT, we are pleased with our progress to date and excited to be helping Louisiana diversify its economy and build out a high tech Silicon Bayou right here in north Louisiana," said Dr. Mike O'Neal, NFT's Founder and Chief Scientist. "The future for our State and region looks very bright."

About Network Foundation Technologies, LLC

Network Foundation Technologies, LLC (NFT: pronounced 'NiFTy') is a name that is quickly becoming synonymous with the online broadcasting of large, live events to world-wide audiences. The company's patented technology used in its NiFTy Online Television product, is the most efficient and successful method for enabling distributed video broadcasting over the Internet. For more information please visit www.NiFTy-tv.com.

Contact Information

  • Contact:
    Jay Bowen
    Director of Marketing
    Network Foundation Technologies, LLC
    2031 King's Hwy., Suite 102
    Shreveport, LA 71103
    phone: 318.213.0190, ext.1220
    fax: 866.297.9630