Saint Laurent, Quebec (September 6, 2001) — Miranda Technologiesannounced that it has launched Miranda Media Networks, Inc., a newfully owned subsidiary, following a joint investment of $19 million inMiranda 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 also followsMiranda’s acquisition and integration of GDC’sMontreal-based Multimedia Division in early July.
“The acquisition of GDC Multimedia’s business andproducts, together with the new investment, provides Miranda MediaNetworks with a powerful position in the expanding and lucrativeinteractive broadband delivery market,” said Miranda PresidentChristian Tremblay. “This includes applications such asbroadcast, program production, video conferencing, telemedicine,distance learning, and telejustice.”
“Montreal is a center of excellence in the video industry andMiranda is one of its leaders,” said SGF Chairman of the Boardand Chief Executive Officer, Claude Blanchet. “Reinvesting inMiranda is one way of strengthening the market position ofboth.”
“This is our third equity financing in Miranda since ourinitial investment back in the spring of 1997. We are very pleased withthe company’s performance, and proud to participate in theexpansion of a world-class business,” said BDC Venture CapitalManaging Director, Robert Inglese.