A formal inauguration of the headquarters is to be made during GITEX, the regional exhibition for the IT industry, being held in Dubai from 13-17 October.
iPIX International is a joint venture between iPIX and Soroof International, a Saudi Arabia-based Group of companies focused on core technology/industry investment and technology transfer. His Highness Prince Bander Bin Abdullah Bin Mohammed Al-Saud, President and CEO of Soroof International, is to be Chairman and Tim Brookes, previously senior vice president of Internet Pictures Corporation, is to be CEO of iPIX International. From Dubai, 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 the fields of 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 Bandar, Chairman of iPIX International, spoke of the importance of attracting technology-driven investors to the region. “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,” he commented. “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”.
Don Strickland, president and CEO of Internet Pictures Corporation explained the reasons for the development. “We have built a strong base in North America, working closely with strategic partners conducting e-business on the Internet, and now wish to extend our 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 Tim Brookes. “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.”
About Internet Pictures Corporation
Internet Pictures Corporation (iPIX®) provides mission-critical imaging solutions to facilitate commerce, communication, security and entertainment. The Company’s solutions create, process and manage a rich variety of media including still images, 360-degree by 360-degree immersive images, video, animation, text and audio. iPIX is the largest online image management and distribution company in the world serving over 200 million image views and one million submissions daily for customers such as eBay®, Homestore(tm) and LA Times®. The Company is a publicly traded company (Nasdaq:IPIX), founded in Oak Ridge Tennessee, with a co-North American headquarters in San Ramon, California.
About Soroof International
Soroof International is a global group of companies dedicated to providing advanced and integrated solutions leading to knowledge-based economy and environment protection. Soroof International is founded on state-of-the-art technologies, customer centered philosophy and contribution to the community with primary focus on core industry and technology investments, knowledge transfer and environment protection. Soroof accomplishes this through strategic alliances and partnerships with world-renowned Industry and Technology developers and Research centers around the world.
Issued on behalf of iPIX International by Bain Euro RSCG
For further information, please contact Marwan Abu-Ghanem or Hania Tabet on (009714) 390 3030; fax (009714) 391 8486, web www.baineurorscg.com
Tuesday, October 8- 2002 @ 9:10 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.