PLANO, Texas, Jan. 30, 2007 (PRIME NEWSWIRE) -- ESPRE Solutions, Inc. (Pink Sheets:EPRT), a Dallas-based media solutions and technology company with a revolutionary and patented video compression technology, today announced that it has signed a license agreement with Global IP Sound (GIPS), which announced its name change to Global IP Solutions on January 29, 2007, a multimedia technology company delivering real-time communications solutions based in San Francisco.
Under the perpetual license agreement, ESPRE Solutions, Inc. will receive $2 million for a right-to-use license for real-time communications with the ESPRE LSVX CODEC. As of January 3rd, 2007, ESPRE Solutions has received $1 million from GIPS and the remaining $1 million will be paid to ESPRE on a quarterly basis throughout the year. GIPS will be integrating ESPRE's CODEC technology into all of their client and server engines, enabling service providers, application developers and hardware manufacturers to develop IP-enabled media with maximum sound and image quality.
Gary Hermansen, CEO of Global IP Solutions, states, "After spending over a year analyzing multiple video CODECs that would provide GIPS with superior quality and capable of seamlessly integrating into our core audio solutions, we selected what we believe to be the leading edge video CODEC out there today. ESPRE's LSVX CODEC provides the highest quality video in the market today when having to deal with the obstacles imposed by wireless access points, limited upstream bandwidth and non-managed networks like the public Internet."
"Due to perceived unconquerable obstacles, few have mastered the challenges associated with enabling high-quality, multi-party video to be transmitted through the inconsistent and unmanageable endpoints of the Internet. However, Global IP Solutions has developed breakthrough audio technology to solve these same daunting issues. ESPRE's focus is to provide customized collaborative video applications that include video streaming and interactive, concurrent sessions, and GIPS will provide ESPRE with increased market penetration as we anticipate GIPS will introduce our technology to their customers' millions of users. We are very pleased that GIPS selected ESPRE for its video technology as they expand their multimedia offerings," states Pete Ianace, CEO and President of ESPRE Solutions, Inc.
About ESPRE Solutions, Inc.:
Plano, Texas-based ESPRE Solutions is a public company (Pink Sheets:EPRT) and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality, real-time and streaming video over the Internet-even at dial-up speeds as low as 28Kbps. ESPRE Solutions intends to be the video solutions provider of choice for Internet Service Providers, Enterprises, application developers, communications hardware vendors and chip manufacturers, by providing both narrowband and broadband video solutions for integration into traditional voice and data applications. ESPRE Solutions' eViewMedia Engine(tm) provides an integrated toolkit solution for developers to create applications for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering eView technology, visit www.espresolutions.com
About Global IP Solutions:
Global IP Solutions offers multimedia technologies for real-time communications over packet networks and enables companies to deliver IP applications that offer the highest quality user experience, as well as revenue-enhancing opportunities across a multitude of devices and services. Global IP Solutions provides best-in-class voice and video quality and fidelity in end-to-end IP communications with robustness against packet loss. Global IP Solutions' world-renowned media processing and IP telephony experts deliver these solutions to service providers, enterprises, applications developers, network equipment, gateway and chip manufacturers. Companies using Global IP Solutions products include Nortel, Skype, WebEx, Yahoo!, AOL, Earthlink, BlueCross/BlueShield and other key players in the VoIP market. Global IP Solutions is a member of the Intel(r) PCA Developer Network, the Motorola Design Alliance, Symbian Platinum Partners and Texas Instruments' third-party developer network. Global IP Solutions has headquarters in San Francisco and offices in Santa Barbara, Stockholm, Hong Kong and Boston. More information is available at www.gipscorp.com.
SAFE HARBOR
Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward-looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance.