MGI announces worldwide VideoWave licensing agreement with Adaptec FireWire solution Thursday 7 December 2000 PDF Print New agreement builds on strong working relationship to extend growth of consumer video MGI (TSE: MGI) today announced a worldwide VideoWave licensing agreement with Adaptec, Inc. (NASDAQ:ADPT), the global leader in innovative storage solutions. The agreement, potentially valued at one million dollars, builds on MGI’s existing relationship with Adaptec and results in MGI's market-leading consumer video software for Windows being included with Adaptec's AFW-4300 FireWire (IEEE 1394) host adapter card. Historically, the two companies have worked together to ensure hardware/software compatibility, and to help foster the adoption of FireWire. MGI's PhotoSuite and VideoWave are also bundled with Adaptec's popular Easy CD Creator. Ihor Petelycky, general manager, Video Products, MGI, said, "In the effort to drive the popularity of consumer video, MGI continues to build close working relationships and strategic partnerships with leading technology providers such as Adaptec. The popularity of VideoWave is being driven in part by the adoption of FireWire as the industry standard for transferring video from a digital camcorder to the computer, and the interest of users to create web-ready videos." According to research firm Cahners In-Stat Group, some 20 million PCs will ship with IEEE-1394 this year, a significant increase from the 7 million units shipped in 1999. The adoption of IEEE-1394 in PCs will continue to spike with unit shipments climbing beyond 50 million by 2003. In-Stat also forecasts that by the year 2004, 76 percent of consumer desktop computers and more than 65 percent of digital video camcorders shipped will offer FireWire connectivity. Home video editing and publishing is seen as one of the ‘killer-apps’ for FireWire, so as the standard continues to proliferate, the market for consumer video editing software is expected to grow in tandem. Under the agreement with Adaptec, MGI VideoWave 4 SE is bundled with Adaptec's reliable AFW-4300 FireWire host adapter and a six- to four-pin FireWire cable. At a suggested retail price of US$94 (approx £66), the combination is an affordable end-to-end solution for capturing, producing and sharing professional quality videos on the web. Notes to Editors For further information on MGI Software, please contact: Jenny Hodge, communications manager, MGI Software, tel: 01908 278106 / 07775 897360, email: firstname.lastname@example.org. MGI contact information for publication: Web sites: http://www.mgisoft.com http://and www.videowave.com UK enquiries: 0800 973830 About Adaptec Adaptec (NASDAQ: ADPT) is the global leader in innovative storage solutions. Adaptec's hardware and software solutions for business and Internet applications move, manage, and protect critical data and digital content. Adaptec's storage solutions are found in high-performance networks, servers, workstations and desktops from the world's leading manufacturers, and are sold through distribution channels to ISPs, enterprises, medium and small businesses and consumers. Adaptec is an S&P 500 and a NASDAQ 100 member. More information is available at http://www.adaptec.com About MGI 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 and VideoWave 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. This press release contains statements that are forward looking and are based on current expectations that are subject to risks and uncertainties. Actual results will differ due to factors such as shifts in customer demand, product shipment schedules, product mix, competitive products and pricing, technological shifts and other variables. This press release was distributed by ResponseSource Press Release Wire on behalf of Rovi Europe Ltd in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.