Hilco Streambank sells IP of the leading video transport and transcoding company, Brevity, to AllDigital Holdings, Inc.

NEW YORK, N.Y., Nov. 13, 2014 (GLOBE NEWSWIRE) -- Hilco Streambank (www.hilcostreambank.com) has announced the successful sale of the intellectual property assets, domain names, customer lists and other assets of Brevity LLC to AllDigital Holdings, Inc. (OTCBB:ADGL). The sale closed on October 17, 2014 following an auction on September 23, 2014.

Founded in 2010, Brevity developed its proprietary software to help transform video production and distribution workflows by reducing the time, cost, and effort required to move large media files. This technology provides AllDigital and its customers the most innovative solution to simultaneously transcode and transport video for what may be the fastest video workflow available today.

"This was a great fit for AllDigital. Brevity's patented technology introduces new efficiencies into the video production, post-production, and distribution process, a win for both AllDigital and its customers," said Gabe Fried – CEO at Hilco Streambank.

Fried indicated that AllDigital prevailed in a sale process that attracted attention from players in both the video digital storage and data filing sector. "The Brevity patent portfolio and innovative technology is highly valuable within the digital production industry, offering a world class solution to the complex challenge of large data files and endless formats," said Fried.

Brevity has been a recognized solution to any compression, transmission and large file format requirements since it was founded in 2010. Michael Linos, President and CEO of AllDigital said, "We're thrilled about acquiring these assets and coming in with the strength of the AllDigital cloud based platform."   Today Brevity is recognized for its transformative video production and distribution workflows and for helping to redefine the time, cost, and efficiency required to move large media files. Linos further said, "This innovative, patented technology brings together simultaneous, super-accelerated transport and transcoding, using highly advanced algorithms to provide a simple and seamless solution for video production, post-production, and distribution workflows."  

Companies that have used Brevity include NBC Sports for the 2014 Sochi Winter Olympics, CBS Sports, Fox, NASCAR and Deluxe. "In addition to its patented technology and innovation, The Brevity brand and reputation is recognized by leading networks, studios, content providers, sports teams, and post-production houses, "said Linos.  

Simultaneously with this acquisition AllDigital announced the availability of the AllDigital Brevity technology, which enables the delivery of HD and 4K video content from Mac, PC and Linux desktops to popular cloud services, such as YouTube, Amazon Web Services (AWS), Microsoft Azure and Akamai, at speeds which AllDigital believes are faster than any currently available solution.

"Devices like Apple's iMac with Retina 5K display and Samsung's 4K Ultra HD TV are designed to serve high resolution content. Broadcasters need practical and cost effective solutions to power these workflows," said Tim Napoleon, Chief Strategist of AllDigital.

"AllDigital Brevity technology allows customers to deliver content twice as fast as existing solutions for about half the price."

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

With the exception of historical information, the matters discussed in this press release including, without limitation, the ability of AllDigital Brevity technology to provide ultrafast delivery of HD and 4k video content leveraging patented Brevity technology, its ability to deliver content twice as fast as existing solutions for about half the price and that Brevity may be the fastest video workflow available today, are forward looking statements that involve a number of risks and uncertainties.  The actual future results and performance of AllDigital could differ from those statements.  Factors that could cause or contribute to such differences include, but are not limited to, unexpected product development delays; adverse economic and market conditions; lack of capital necessary to fund new product development; the inability to achieve operational improvements; and other events, factors and risks previously and from time to time disclosed in AllDigital's filings with the Securities and Exchange Commission including, specifically, those factors set forth in the "Risk Factors" section contained in AllDigital's Form 10-Q filed with the Securities and Exchange Commission on August 14, 2014.  AllDigital expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in expectations or results or any change in events.

About AllDigital: AllDigital (OTCBB:ADGL), a leader in digital broadcasting solutions, is the developer of AllDigital Cloud, a content management system (CMS) focused on the virtualization of digital content. AllDigital Cloud empowers enterprises to stream content across multiple devices including mobile, desktop, and digital television, providing total control over the global distribution of digital media assets.   AllDigital Cloud provides high-speed data transfer, scalable storage, encoding / transcoding, VoD, linear programming, and real-time reporting.  AllDigital's patented AllDigital Brevity technology enables companies to power broadcast and Internet video workflows for high resolution content. Mainly serving media and entertainment companies, enterprise brands, non-profit and government organizations, AllDigital sets itself apart by offering highly scalable and ultra-low latency (ULL) digital broadcasting solutions, including cloud storage, origin transit, content management solutions, integration services, and related customer support.

About Hilco Streambank

Hilco Streambank is a market leading advisory firm specializing in intellectual property disposition and valuation. Over the last three years Hilco Streambank has become a leader in the IP valuation and disposition market, representing brands across various industries. Having completed numerous transactions including sales in publicly reported Chapter 11 bankruptcy cases, private transactions, and online sales through HilcoDomains.com and IPv4Auctions.com, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet and telecom communities. Hilco Streambank is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), a worldwide financial services company and leader in helping companies maximize the value of their assets.