SOURCE: Itiva Digial Media

May 19, 2006 15:06 ET

Itiva Digital Media Closes $2.5 Million Private Placement

PALO ALTO, CA -- (MARKET WIRE) -- May 19, 2006 -- Itiva Digital Media, developers of high definition Internet video delivery technologies and services, announced today that it has closed a $2.5 million investment from private donors. This round of investment is to be used to assist with corporate growth and product development in advance of the Company's commercial product release in September 2006.

"With this round of financing, Itiva is in a great position to take a leadership role in its effort to make high quality Internet video ubiquitous," said Itiva's President Michel Billard. "Our technology is being well received by leading content companies that are testing our Beta version. This funding will enhance our abilities to make our products and services commercially available by September of this year."

Itiva is currently Beta testing its transport solutions with several companies, including HIP Digital and EMI Music Canada for music videos, as well as Dreamworks' "Over The Hedge" movie trailer. Designed to help content providers deliver fast, high-quality, full-screen video over the Internet, Quantum Transport sets a new standard for affordability by combining the power of server-based and edge computing. A breakthrough in scalability, Quantum Transport allows millions to simultaneously experience DVD and even HD quality viewing experience over the Internet.

About Itiva

Itiva Digital Media develops technologies that significantly and positively influence adoption of Video over the Internet by enhancing the viewer experience and making a strong business case for media companies and content developers. Founded in 2005 and headquartered in Palo Alto, California, Itiva technologies will be showcased by media companies in spring and summer of 2006, with commercial availability set for September, 2006. For more information, visit www.itiva.com.

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