GE Interlogix Selects Advanced Video Compression Technology From eTreppid for New Family of Video Surveillance Products AUSTIN, Texas--(BUSINESS WIRE)--Aug. 19, 2002-- Faster Network Transmission, More Efficient Storage and Lower Costs Aimed to Benefit Gaming Industry Initially GE Interlogix, a wholly-owned subsidiary of the General Electric Company, (NYSE: GE) and eTreppid Technologies, LLC (eTreppid) today announced an agreement granting GE Interlogix exclusive use of eTreppid's new video compression technology for the global security and surveillance market.
As part of the agreement, GE Interlogix will manufacture and market a revolutionary new Digital Video Casino Surveillance System, which incorporates eTreppid's advanced video compression technology, along with automatic gaming audit software and object recognition and tracking software developed by eTreppid.
The breakthrough video compression technology that GE Interlogix will use from eTreppid allows digital video surveillance images to be stored much more efficiently; improved transmission speeds over networks and the Internet by using significantly less bandwidth; improved data back-up capacity; and lower costs.
We believe eTreppid's technology represents a significant advancement in video compression, said Ken Boyda, CEO of GE Interlogix. We have been successful in the field of video compression for many years now, and believe eTreppid's technology offers a major leap forward. The first system we are introducing that uses this new compression has been designed specially for the needs of the gaming industry. Casinos place some of the most stringent demands on video storage and surveillance, and in our opinion this will establish a new standard in video image quality and performance for high-end video systems.
Warren Trepp, Chairman and CEO of eTreppid, said eTreppid's video compression technology will revolutionize the current landscape for video quality, transmission and storage costs associated with the use of video, audio and security in entertainment, cable, telephony and networking markets. The relationship with GE Interlogix is an important first step in the introduction of our new world-class video and audio compression technology.
About GE Interlogix
GE Interlogix is a wholly owned subsidiary of the General Electric Company and operates as part of GE Industrial Systems. GE Industrial Systems spans the globe as an industry leader in single, integrated industrial equipment, systems and services. GE Interlogix has principal divisions in Security and Life Safety, Enterprise Technologies and Key Management. The company has over 35 locations in the United Stated, the United Kingdom and several other international countries. For more information visit the website at: www.GE-Interlogix.com
About eTreppid Technologies, LLC
eTreppid Technologies, LLC located in Reno, NV has developed a revolutionary new Video, Audio and Data compression technology, which provides superior video quality at lower transmission and storage costs than anything in the market today. The company offers the entertainment, cable, satellite, telephony and media storage markets a whole new generation of compression technology for the 21st century. For more information visit the website at: www.eTreppid.com
THIS NEWS RELEASE CONTAINS FORWARD-LOOKING STATEMENTS. THE FOLLOWING FACTORS, AMONG OTHERS, COULD CAUSE THE ACTUAL RESULTS OF THE ACQUISITION TO DIFFER MATERIALLY FROM GE INDUSTRIAL SYSTEM'S EXPECTATIONS: THE ABILITY TO TIMELY AND FULLY REALIZE THE EXPECTED COST SAVINGS AND REVENUES; COMPETITION; CHANGES IN ECONOMIC CONDITIONS. GE INDUSTRIAL SYSTEMS DOES NOT ASSUME ANY DUTY TO UPDATE FORWARD-LOOKING STATEMENTS. SUCH STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY. SUCH STATEMENTS ARE BASED ON INFORMATION AVAILABLE AS OF THE DATE HEREOF, AND ARE MADE ONLY AS OF THE DATE HEREOF. TO THE EXTENT THAT SUCH STATEMENTS RELATE TO THE PROPOSED ACQUISITION REFERRED TO IN THIS RELEASE, THERE IS A RISK, AMONG OTHERS, THAT THE TRANSACTION MIGHT NOT BE COMPLETED.
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CONTACT: GE Industrial Systems
Terrence C. Dunn, Jr., 860/747-7397
Fax: 860/747-7393
Email: [email protected]
or
eTreppid Technologies, LLC
Dennis Montgomery, 775/337-6771
Email: [email protected]