SOURCE: PeerApp, Ltd.

May 08, 2008 12:21 ET

PeerApp Named as Finalist for the 2008 MITX Technology Awards

BOSTON, MA--(Marketwire - May 8, 2008) - PeerApp, Ltd., the innovator in Intelligent Media Caching, today announced that it has been named a finalist for the 5th Annual MITX Technology Awards. The MITX What's Next Forum & Technology Awards, sponsored annually by the Massachusetts Innovation & Technology Exchange (MITX), recognize innovative digital technologies developed in the New England area, as well as the individuals and organizations responsible for these advancements.

Based on patented peer-to-peer (P2P) caching and acceleration technology, PeerApp's UltraBand™ products help Internet Service Providers (ISPs) alleviate network-congestion problems caused by the flood of video files coming over P2P networks and from streaming video web sites such as YouTube and MySpace. ISPs can satisfy subscriber demand for video, ensure a consistently great customer experience, and deliver the content at wire speeds -- without incurring massive network upgrades.

"This recognition further validates the need for creative new approaches that make the Internet infrastructure and business models ready for video," said Alan Arolovitch, PeerApp's chief technology officer. "All the video being created and distributed over new platforms is wasted if it can't be delivered to consumers with great quality of experience. Our technology benefits the entire Video Internet value chain: ISPs, content owners, content delivery networks, and consumers."

"In its fifth year, the MITX Technology Awards have attracted some of the most distinguished technological innovations that the region has to offer," said Kiki Mills, executive director of MITX. "It is this tremendous interest that enables our organization to accomplish its mission of uniting the brightest minds in the digital marketing, media and technology community and honoring their outstanding achievement."

PeerApp will be recognized with the other finalists in the Video category at an awards ceremony attended by the region's top technology and business professionals. Winners will be announced at the ceremony at the Royal Sonesta Hotel on Tuesday, June 3, 2008. This year's keynote speaker and special honoree is Dr. Amar Bose, Chairman & Founder of Bose Corporation.

About PeerApp

PeerApp is a leading supplier of Intelligent Media Caching solutions for ISPs worldwide. Based on patented P2P caching and acceleration technology, PeerApp solutions cache and accelerate content delivery, including P2P and HTTP downloads and video streams. PeerApp products enable ISPs to enhance network efficiency, support subscriber growth and implement new revenue-generating services for the Video Internet. Millions of broadband subscribers around the world receive high-quality video and other digital media through PeerApp systems.

About MITX

Established in 1996, MITX -- the Massachusetts Innovation & Technology Exchange is the leading industry organization focused on the web, bringing together the digital technology, marketing and media community to engage in what is next for the web and how it will impact the marketing and business worlds. Reaching more than 6,000 professionals in New England, MITX is a dynamic and growing community of thought leaders, collaborators, and individuals in search of insight, education and opportunity. With more than 60 events annually, MITX provides its members with the opportunity to promote their companies to targeted audiences and provides a valuable forum for networking to source potential business leads, partnerships, ideas, funding and other likeminded peers in the industry. MITX is headquartered in Cambridge, Mass. For more information please go to www.mitx.org.

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