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Dubai chosen as international base for ground-breaking new visual image technology

United Arab Emirates: Thursday, October 17 - 2002 @ 09:48

The technology generates complete 360-degree images as if viewed from any point on the inside of a hollow sphere, creating dramatic “in the round” visuals.

The new company is owned by Saudi Arabian and USA shareholders who chose Dubai as the international base to market and distribute the patented technology in more than 160 countries across the world.

iPIX International is a joint venture between Internet Pictures Corporation of the USA and Soroof International, a Saudi Arabia-based Group of companies focused on core technology/industry investment and technology transfer.

A formal inauguration of the company’s new headquarters at Dubai Internet City took place today (October 16) as part of GITEX, the regional exhibition for the IT industry.

His Highness Prince Bander Bin Abdullah Bin Mohammed Al-Saud, president and CEO of Soroof International, is chairman of iPIX International, and Tim Brookes, previously senior vice president of Internet Pictures Corporation, is president and CEO.

iPIX International will develop and manage the iPIX business outside North America, Japan and China through the exclusive distributor for iPIX Immersive still products, including the iPIX GPS Mapping System.

The formation of iPIX International is a continuing step in Soroof’s aggressive quest for attracting new technologies into the region and to the world. Through a five-year royalty agreement with iPIX, this new global enterprise will develop integrated solutions for markets including real estate, travel and tourism and other markets in which online marketing is critical.

iPIX technology delivers the most effective applications available using full 360-degree-by-360-degree (“Virtual Tour”) imaging technology and services that enable customers to create and manage dynamic visual imaging content to achieve a competitive advantage.

Leading users include organizations in tourism, real estate, the automotive market and classified advertising. Over a million images are uploaded to its local servers and over 200 million image views are managed each day. iPIX is the holder of 17 patents and its imaging products are used on 10,000 web sites around the world.

Its imaging solutions are revolutionizing businesses, enabling them to exploit the dynamic, interactive nature of the Internet. International clients include Disney, CNN, British Airways, the BBC, Manchester United, General Motors, Toyota and other major car marques, Sheraton, Hilton, Royal Caribbean and National Geographic. The company’s imaging technology is in use in the Middle East with Jumeirah International, Dubai Municipality and Dubai World Cup.

HH Prince Bander, Chairman of iPIX International, spoke of the importance of attracting technology-driven investors to the region, saying: “We are delighted to partner the Internet Pictures Corporation in this new venture, especially as it has the remit to develop the company’s global interests.

“We are sure that our new venture will become a valuable addition to the business community of the Arabian Gulf, playing a leading role in transferring advanced technology and expertise to the region”.

Tim Brooks explained the reasons for the development, saying: “Internet Pictures Corporation built a strong base in North America, working closely with strategic partners conducting e-business on the Internet, and now wish to extend this success to the international arena.

“We have been enormously impressed at the opportunities offered in the Middle East, not only as a market in itself but also as a springboard to business development throughout the world”.

It has become essential for companies conducting business on the Internet to exploit successfully the interactive nature of the medium, says Roger Swann, regional director of the new company.

“In a world in which visual technology is playing an increasingly vital role in the development of e-business, the extension of iPIX’s proven technology to the international marketplace should help introduce many new players to Internet business.”

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Thursday, October 17- 2002 @ 9:48 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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