Strategic Investment Injected for Acquisition and Corporate Expansion to Solidify Video ASP Market Position
Weehawken, NJ (May 21, 2007) — Origin Digital, Inc., a global video applications service provider, today announced it has secured funding from Constellation Ventures II, a Bear Stearns Asset Management Venture Capital Fund. The proceeds will enable Origin Digital to broaden its portfolio of managed applications and solutions, and widen its global reach to capture a larger share of the exploding market for digital transformation, distribution and delivery.
According to ABI Research, the broadband video applications service provider market is projected to grow from $237 million in 2006 to $1.87 billion in 2011. Additionally, Forrester Research expects the need for digital media services to grow at a 50% compound annual rate.
“Origin Digital’s history of success driving global brands to digital distribution places the company in a strategic position as delivery of content drives the next wave of digital media services. This investment helps Origin Digital to accelerate services underlying the adoption of on-line programming, user-generated content and live channel streaming to an ever expanding array of platforms and devices,” said Cliff Friedman, Senior Managing Director of Bear Stearns Asset Management, Constellation Ventures and Chairman of Origin Digital.
Origin Digital enables content creators and distributors to extend their digital media presence through its physical and virtual production applications, broadcast and infrastructure facilities and services. Building on a legacy of innovation, Origin Digital continues to be an industry technology and applications originator. It was the first company to offer an on-line production center in the market; the first to launch a Video Serving Portal; and the first to deliver live pay-per-view entertainment over the Internet.
“With a rich history in digital media services, an ever-growing network of partners, and a portfolio of global brands, Origin Digital is uniquely positioned to aggressively lead and shape the new wave of digital media distribution,” said Darcy Lorincz, CEO of Origin Digital. “As broadcast quality content merges with broadband, mobile and wireless platforms, Origin Digital will lead the market in the capability to monetize, transform, distribute and manage these cross-platform processes seamlessly to our customer while they focus on delivering a compelling consumer experience.”
About Origin Digital
Origin Digital, Inc. is a global video applications service provider that applies the rigors of broadcast to the management, distribution and delivery of all forms of digital content. Origin Digital enables content creators and distributors to extend their digital media presence through its physical and virtual production, broadcast and infrastructure facilities. Through its network of strategic partners and directly via global points of presence, Origin Digital provides hosted applications, tools and services to simplify digital media management, transformation and distribution. Origin Digital is closely held, and is headquartered in the New York Metro Area. For further information visit www.origindigital.com.
