Miranda Technologies Inc.
TSX : MT

Miranda Technologies Inc.

May 02, 2006 18:43 ET

Miranda Technologies Completes Acquisition of VertigoXmedia

MONTREAL, May 2 - Miranda Technologies Inc. (TSX:MT), a
global developer, manufacturer and marketer of high-performance hardware and
software for the television broadcast industry, today confirmed that it has
completed the acquisition of VertigoXmedia, inc., announced on April 22, 2006.
VertigoXmedia is a Montréal-based manufacturer of high-end graphics automation
software and systems.

The transaction allows Miranda to add a powerful suite of software
workflow and graphics capabilities to its existing, highly successful playout
branding products. In addition, the VertigoXmedia graphics platform, a
powerful solution for the automated presentation of live graphics, will
provide Miranda with a new product range for production environments.

VertigoXmedia is the first acquisition announced by Miranda Technologies
since its Initial Public Offering (IPO), which was completed in December 2005.

About Miranda

Miranda Technologies Inc. (TSX:MT) develops, manufactures and markets
high-performance hardware and software for the television broadcast industry.
Its solutions are purchased by content creators, broadcasters, specialty
channels and television service providers to enable and enhance the transition
to a complex multi-channel digital and HDTV broadcast environment. This
equipment allows customers to generate additional revenue while reducing costs
through the more efficient distribution and management of content as well as
the automation of previously manual processes. Miranda employs over 350 people
at its Montréal headquarters and in its offices located in Wallingford (UK),
Paris (France), Tokyo (Japan), Hong Kong, Beijing (China) and Springfield (New
Jersey). Miranda became a public company on December 8, 2005 and is listed on
the Toronto Stock Exchange. For more information, please visit
www.miranda.com.

About VertigoXmedia

VertigoXmedia, inc. is an innovator in the field of graphics automation
solutions for broadcast television, cable and digital signage. The company's
patented products significantly streamline the graphics production workflow by
offering the ability to automatically capture and control live data, create
corresponding data-driven graphics, and deliver professional, real-time
graphics to multiple output channels. VertigoXmedia also offers award-winning
creative design, integration, and consulting services. VertigoXmedia's
products and services have been used by many of the world's leading
broadcasters, including CBS, CNBC, CNN, ESPN, FOX, NBC, Time Warner Cable,
CBC/Radio-Canada, CTV, Global Television, and others around the world. For
more information, please visit www.vertigoxmedia.com.

Forward-Looking Statements

This press release contains forward-looking statements reflecting
Miranda's objectives, estimates and expectations. Such statements may be
marked by the use of verbs such as 'believe', 'anticipate', 'estimate',
'looking ahead' and 'expect' as well as the use of conditional or future
tense. By their very nature, such statements involve risks and uncertainty.
For additional information with respect to risk factors affecting Miranda's
business, please refer to Miranda's annual information form under the heading
"Risk Factors", which is available on SEDAR at www.sedar.com.

All trademarks mentioned herein are the property of their respective owners.

Contact Information

  • Investors: René Vachon, Executive
    Vice-President & CFO, Miranda Technologies Inc., (514) 333-1772; Media: Jean
    Walter, Vice President, MaisonBrison/BarnesMcInerney, Capital Market
    Communications, (514) 731-0000; Claire Fiset, Miranda Technologies Inc., (514)
    333-1772, ext. 3251; Source: Miranda Technologies Inc.