WASHINGTON (05/01/2000) - Intel Corp. and Excalibur Technologies Corp. today announced plans to create a new company that aims to provide the owners of newsreels, sports highlights and other similar multimedia content a way to deliver it to subscribers over the Internet.
The new company will combine Excalibur's content management technologies used to produce media archives with Intel's patented technology for content protection, the two companies said in a release. This will enable subscription services to provide consumers access to a new class of branded interactive media, they said.
The new company's services will enable end users to interact with the content, while the owners of the content will be able to deliver it knowing where it's going and how it's getting there, the release said.
Under the terms of the agreement, Intel will contribute its Interactive Media Services division and invest US$150 million in exchange for 60 percent of the new company's equity. Intel will take a 49 percent position in the voting stock of the new company and the balance of its investment in nonvoting stock.
Excalibur will combine its entire business operations with those of the new company. Excalibur stockholders will receive 40 percent ownership in the new company in exchange for their Excalibur stock. The transaction is subject to regulatory review, approval from Excalibur stockholders and other closing conditions. Completion of the transaction and the new company's launch is expected in the third quarter of this year.
Intel and Excalibur plan a teleconference today at 2:30 p.m. EDT to provide further details. The teleconference number is +1-719-457-2661.
Intel, in Santa Clara, California, can be reached at +1-408-987-8080, or at http://www.intel.com/; Excalibur Technologies, in Vienna, Virginia, can be reached at +1-703-761-3700 or found on the Web at http://www.excalib.com.