STOCKHOLM, Sweden, June 9, 2006 (PRIMEZONE) -- Edgeware, a start-up company developing scalable and cost efficient high performance servers for on-demand television services, today announced that Amadeus Capital Partners has joined Creandum as co-investor by committing 17Msek in addition to 11Msek committed by Creandum.
Edgeware has developed innovative network server equipment, targeting on-demand TV services such as time shifted live TV and video on demand. Based on a novel video streaming and solid-state content storage architecture, Edgeware's revolutionary server products rewrite the rules for IPTV service providers in terms of streaming capacity, functionality, service quality and profitability.
"Amadeus is a well established international investor with an excellent understanding of the IPTV space. Their investment will further strengthen our credibility internationally and sends a clear message that we are here to become a dominant supplier of on-demand infrastructure," says Founder and CEO Joachim Roos.
"Attracting both leading local and leading international investors is an added endorsement of our world-class team, category-defining technology and strong market momentum," continues Joachim Roos.
Commenting on the investment, Amadeus Partner Simon Cornwell says: "Edgeware will change the economics of video-on-demand networks, initially for IPTV and in the future for cable TV and the fast-growing mobile market. Beyond this, the Edgeware approach offers blue sky potential in a wide range of storage applications once initial product development and launch is complete later this year. The founding team, all of whom have experience of successfully taking technical product to market, are keen to build a world-leading business around their core technology. We are delighted to be able to help in that process."
"We are proud and delighted to have Amadeus join us as co-investor in Edgeware; our combined strengths will ensure a strong continued development of Edgeware and secure their establishment as a leading player in the IPTV market," says Stefan Lindeberg partner at Creandum.
http://hugin.info/135589/R/1054602/175606.pdf
ABOUT EDGEWARE, http://www.edgeware.tv
Based on a break-through solid state storage and hardware streaming architecture, Edgeware is a technology leader in supplying cost efficient, scalable and robust high-performance server systems for on-demand streaming video over IP networks.
The Edgeware team is led by CEO and Founder Joachim Roos (previously Xelerated Inc) and include world class team members with a past in advanced IP networking and broadcast video processing. Goran Appelquist, VP Business Development, was previously CTO at Digital Vision (SX:DV) and Mikael Samuelsson, VP Sales, was previously with Drutt Corporation.
ABOUT AMADEUS, http://www.amadeuscapital.com
Amadeus is one of Europe's leading technology investors. Since its inception in 1997, the firm has backed over 50 companies covering computer hardware and software, mobile and fixed communications technologies and medical technologies. Investments include Cambridge Silicon Radio, producing single chip bluetooth radios for short range connections and floated on the London Stock Exchange in 2004, Optos, a manufacturer of laser retinal scanners which this year had a successful IPO on the London Stock Exchange, Cambridge Broadband, developing technologies for wireless broadband networks in countries with poor infrastructure and Valista, an electronic payments company.
ABOUT CREANDUM, http://www.creandum.com
Creandum is a Nordic venture fund founded in 2003, investing in companies' earliest phases. The fund is focused on investments in innovative technologies and/or business models in high growth markets backed by outstanding entrepreneurs.