MGI PhotoSuite and VideoWave to ship with Sony digital cameras and new Handycam camcorders in $10m deal
MGI Software Corporation, a leading provider of visual media software products and infrastructure, today announced a new licensing agreement with Sony Corporation, Japan, one of the world’s leading suppliers of digital cameras. Under the agreement - a multi-year deal valued at US $10 million - MGI will supply versions of its popular PhotoSuite and VideoWave software in multiple languages, which will be included with the new line of digital video (DV) Sony Handycam Camcorders shipping worldwide.
In addition, MGI has renewed existing licensing contracts with Sony's camera division, which produces the popular Mavica and Cybershot digital still cameras. The agreements with Sony were completed by Mitsui Co. of Japan, MGI’s strategic licensing partner.
Anthony DeCristofaro, MGI president and CEO, said, "We have always maintained that our commitment, partnerships and investments in Japan would be strategically significant. This agreement verifies that commitment, as it expands on the existing relationships we have established with Sony over the years."
According to InfoTrends Research Group of Boston, US, worldwide shipments of digital cameras are expected to grow from 10 million units this year to more than 200 million cameras by 2009. Sony leads worldwide shipments with a year-to-date market share of 25-30%, nearly twice that of its closest rival.
The Consumer Electronics Association (CEA) indicates that recent developments, such as improved resolution and ease of posting images to web sites, have drawn even more users to digital cameras. As a result, digital cameras are topping Christmas present wish lists this year. In the 7th Annual Holiday Purchase Patterns survey, CEA reveals that digital cameras have climbed to second place on the ‘video wish list’, up from fifth place in 1999.
Retailers and online stores are already experiencing sales increases with digital cameras, as predicted by the CEA survey. RadioShack posted its largest single day’s sales in its 75-year history during the US Thanksgiving holiday, with digital cameras playing a significant part in those high sales. Furthermore, top product searches on America Online suggest that digital cameras are as popular as game consoles and scooters.
Digital video is also on the rise. For instance, a feature for video capture is included on many top-selling digital still cameras, while manufacturers such as Sony have discontinued production of analogue camcorders in favour of digital models. Eighty per cent of camcorders sold in Japan, and 10% of those sold in North America last year were digital.
MGI’s award-winning PhotoSuite and VideoWave software provide all the features and power that home and business users need to capture, edit and share photos and videos with their digital cameras and camcorders.
Notes to Editors:
A telephone press conference will be held at 3.00pm today. If you are interested in participating in the press event, or if you would like to hold a private interview with MGI’s president and CEO, Anthony DeCristofaro, following the conference call, please contact Jenny Hodge at MGI on 01908 278106 or 07775 897360, email: email@example.com
Further information about the agreement between MGI and Sony is also available on request.
MGI contact information for publication:
Web site: http://www.mgisoft.com
Tel: 0800 973830
MGI is a leading provider of visual media software products and infrastructure that maximise the use of digital visual content by businesses and individuals. We do this by providing software and services that uniquely enhance every step of the visual media communications cycle, including capturing, creating, streaming, viewing, storing, sharing and publishing. Using our software, businesses and individuals create rich visual content to deliver optimal Internet experiences that communicate, drive user enjoyment and customer frequency, duration, transactions and satisfaction. With headquarters in Richmond Hill, Ontario, MGI employs over 300 people with offices in North America, Europe, and Asia Pacific. MGI Software is publicly traded on The Toronto Stock Exchange under the symbol ‘MGI’. In the UK, MGI is a member of the British Photographic and Imaging Association (BPIA), the Photo Marketing Association International (PMA) and The European Leisure Software Publishers Association (ELSPA).
© MGI Software Corp., 2000. MGI, VideoWave and PhotoSuite are trademarks or registered trademarks of MGI Software Corp. All other company and/or product names are trademarks and/or registered trademarks of their respective manufacturers.
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