3i and Young Associates invest in Pixology to kick start digital imaging in Europe Monday 27 November 2000 PDF Print Pixology is poised to capture Europe’s rapidly growing market for digital imaging solutions, with a £5 million capital injection from 3i, Europe’s leading venture capitalist company, and technology venture capital firm, Young Associates. Pixology has been a leading company in the digital imaging software market since digital cameras were introduced in the mid nineties. Recently Pixology signed a global licensing deal with Kodak in which Pixology’s technology will be used with Kodak’s home printers, and with the recently launched Print@Kodak service. The company is also working with Agfa to provide software solutions. High-profile e-tailers and ISPs such as Jungle.com, buy.com and Supanet have now taken the first steps towards the mass adoption of this new medium and have launched their e-printing services by partnering with Pixology. The company’s knowledge and understanding of the market has also attracted bricks-and-mortar retailers like Jessops, one of the UK’s leading photographic specialists, and Tiny Computers whose Tiny NetStudio offers a one-stop solution for the total digital imaging experience. The rapid market penetration of digital cameras, combined with the widespread use of the Internet, are key to the growth of the digital imaging industry. Online photo-finishing is the process that enables consumers to order glossy photographs of digital images via the Internet. Europe is expected to mirror the US trend of growth in the popularity of digital images with a market which is widely expected to reach £3 billion within the next 5 years.* Pixology Chairman, Lord Young commented: "The Internet and digital cameras are creating a whole new medium. Twenty two million photo quality digital cameras will be sold globally by 2003*. Our Piccolo software provides both digital image browsing and e-printing. Users have everything they need all in one easy to use package. With its expertise in digital imaging Pixology will stay one step ahead to provide the solutions that people need." 3i and Young Associates invest in Pixology to kick start e-printing in Europe/2 Dara Mitchell, who led the deal for 3i, said: "Digital imaging is still at an embryonic stage in Europe today but the market potential is enormous as digital cameras gain quickly in popularity. Pixology is well positioned to become the technology market leader in this sector already having key strategic partnerships with major industry players gained because of the expertise and skills of the Pixology team." "Our investment ensures that Pixology has the financial backing it needs to continue to stay at the cutting edge of digital imaging technology. Pixology, with its application of innovative technology to a new, yet assured, market is exactly the type of company which 3i is seeking to support." * Source: IDC 3i and Young Associates invest in Pixology to kick start e-printing in Europe/3 Notes to editors: About Pixology: Pixology is a software company that provides digital imaging solutions, in particular in the area of digital cameras. Pixology has been specialising in digital camera software since 1994 and is considered to be one of the leading companies in the world in digital imaging solutions. Its technology is used by several of the global photo-major companies, and by some of the stronger retail brands in Europe. Pixology’s core Piccolo product is a state-of-the-art Image Management and Internet Printing application used by several top European retail brands; Pixology’s Digital Camera Advisor product is an in-store demonstrator and content provider for digital cameras, and is used by major retail chains in the US, Europe and Australia. For more information about Pixology and its products and services, please visit our website at http://www.Pixology.com About 3i: 3i Group is Europe’s leading venture capital company. The Group invests in ambitious, growing businesses in all sectors. It provides funding for growth, recovery, management buy-outs and buy-ins. 3i has a network of 39 offices across three continents. Overall, 3i has invested almost £12 billion on over 13,400 businesses (including co-investment funds). It has a portfolio of investments in almost 3,000 companies, with a combined valuation of £6 billion. About Young Associates: Young Associates Limited is a London-based investment firm founded in 1996 by Lord Young of Graffham, Yoav Kurtzbard and Simon Alberga. Young Associates are investors in early-stage communications and technology companies in the UK, continental Europe and Israel. In July 2000, Young Associates launched a new technology venture capital fund, CDIB Young Associates Capital Partners L.P. For further information please contact: For information on Pixology contact: Allyson Poad or Suzanne Orsler McCann Erickson Public Relations T: 01564 778811, f: 01564 771625 or email: firstname.lastname@example.org For information on 3i contact: Dara Mitchell, 3i on t: 020 7975 3336 This press release was distributed by ResponseSource Press Release Wire on behalf of McCann-Erickson Public Relations in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.