Saint Laurent, Quebec — September 6, 2001 — Miranda Technologiestoday announced that it has launched Miranda Media Networks, Inc., anew fully-owned subsidiary, following a joint investment of $19 millionin Miranda by SGF Tech inc., a division of the Sociétégénérale de financement du Québec, BDC Venture Capital,a division of the Business Development Bank of Canada andInvestissement Desjardins. The launch of the new company followsMiranda’s acquisition and integration of GDC’sMontreal-based Multimedia Division in early July.
“The acquisition of GDC Multimedia’s business and products,together with the new investment, provides Miranda Media Networks witha powerful position in the expanding and lucrative interactivebroadband delivery market,” said Miranda President Christian Tremblay.“This includes applications such as broadcast, programproduction, videoconferencing, telemedicine, distance learning, andtelejustice. As these markets grow, Miranda will be setting the pacewith solutions that boost productivity and provide substantial valuesto customers.”
Miranda Media Networks will position itself in the quickly evolvingvideo networking market, enjoying full financial support and stabilityfrom Miranda, while leveraging GDC Multimedia’s customer base andwide range of leading interactive video technology solutions andexperienced staff. In addition, the GDC Multimedia Division acquisitionwill enable Miranda Media Networks to capitalize on the widespreadacceptance of their technology with leading carriers such as Verizon,Telus, SBC, Sprint, and Telewest.
“Montreal is a center of excellence in the video industry andMiranda is one of its leaders,” said SGF Chairman of the Board andChief Executive Officer, Claude Blanchet. “Reinvesting in Miranda isone way of strengthening the market position of both.”
Said Robert Inglese, BDC Venture Capital Managing Director: “This isour third equity financing in Miranda since our initial investment backin the Spring of 1997. We are very pleased with the company’sperformance, and proud to participate in the expansion of a world-classbusiness.”