LOS ANGELES and LONDON, Dec. 6, 2007 (PRIME NEWSWIRE) -- IPTV Corporation (Pink Sheets:IPTV) ("IPTV" or the "Company"), has appointed world renowned technologist Dr. Steve Chen as a member of its Board of Directors.
Dr. Chen is widely considered one of the leading system architects and technologists in the United States having been described by the New York Times as a "pioneer" and "visionary" as well as "one of the nation's most brilliant supercomputer designers." Dr. Chen is best known as the Chief Architect of Cray Research's Cray X-MP and Y-MP multiprocessor supercomputers which were the most commercially successful parallel vector platforms ever released. The X-MP and Y-MP accounted for more than 90% of Cray Research's worldwide supercomputer installations and generated over $1 Billion in revenue.
"Dr. Steve Chen is a legendary technologist who brings tremendous insight and experience to IPTV Corporation," commented Jeff Hultman, CEO of IPTV Corporation. "We are honored to have his counsel as we work to create innovative video commerce technologies for Internet Protocol Television."
"Internet Protocol Television is an emerging technology which will bring tremendous opportunities not only in collaborative commerce, but also in collaborative healthcare, education, entertainment, science and engineering applications to maximize human creativity and productivity. My work during the last 38 years in the high performance computing field will help accelerate this technology into worldwide markets," commented Dr. Steve Chen.
After leaving Cray Research in 1987, Dr. Chen established his own supercomputing company, Supercomputing Systems Inc, with backing from IBM. He later became the Executive Vice President, Chief Technology Officer and a Board Member of Sequent Computer Systems, which was later acquired by IBM. He has raised more than $250 million in corporate and private investment capital to fund his various endeavors. Dr. Chen was the founder and CEO of Galactic Computing Inc., a China-based developer of the world's first 128-blade High Productivity Supercomputing Blade Systems for Information Utility Computing platforms. He is currently the founder and Chief Scientist of Hcom Technology, where he is focused on building high productivity grid supercomputers that deliver pervasive, high-quality and cost-effective digital healthcare, education, media, logistics, commerce, and financial services in China. Dr. Chen earned a B.S. from National Taiwan University, an M.S. from Villanova University and a PhD from the University of Illinois at Urbana-Champaign. Dr. Chen also holds numerous patents in high-performance system design, packaging, parallel architectures, compiler software and application algorithms development.
IPTV Corporation is an interactive television company based in Los Angeles that is developing innovative video commerce technologies for use on wireless, satellite and broadband-based Internet protocol television platforms. The Company's UK based U-Save Network currently broadcasts to approximately 8.5 million homes on the British Sky Broadcasting satellite system. U-Save is the first multi-play dynamic pricing television commerce platform in the world. Additional information about IPTV Corporation can be found at www.iptvcorp.tv
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements.