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Hajtek Acquires Broadband Video Assets from Miranda

Videoconferencing and related broadband video communication assets. (May 25, 2004)

Hajtek Vision Inc. today announced that it has acquired the videoconferencing and related broadband video communication assets of Miranda Media Networks, a division of Miranda Technologies Inc. Hajtek Vision is a privately held company headquartered in Montreal and led by high-tech industry executives Mirko Wicha and Francois Gariepy.

Hajtek has retained all employees of Miranda Media Networks related to the acquired product line -- the 500 Series of broadband conferencing and video communication solutions -- and is planning to add new products, engineering, marketing, and international sales resources. Hajtek will continue developing, enhancing, and commercializing the 500 Series through the company's existing distribution network.

"The acquisition of Miranda Media Networks' videoconferencing assets, together with Hajtek's resources and vision, puts us in a leadership position in the broadband interactive video market," said Mirko Wicha, chairman and CEO of Hajtek. "We have seen strong demand for our products in the North American distance education and broadband conferencing markets, and we are well-positioned to significantly increase our market share in the European and Asian markets. We will also be actively targeting new growth markets, such as tele-presence and security surveillance."

The 500 Series, which is based on six patents, is the result of over $25 million of research and development over the past seven years and is designed to deliver the best broadband conferencing and video communication available. The 500 Series' award-winning MPEG-2 codecs, combined with a broad range of A and IP network interfaces and field-proven reliability, have been successfully deployed across large networks throughout many states in the United States, including Indiana, Maine, Michigan, Nebraska, New Jersey, and New York.

Users of Hajtek's products include BNSF, DreamWorks, GlaxoSmithKline, Goldman Sachs, Hewlett-Packard, Northrop Grumman, and Vodafone. Hajtek's channel partners are some of the most sophisticated video and network systems integrators, including: AHEAD Communication, Hoffman Video, Mycroft, SBC, United Communications Capital Corp., Univisions, and Verizon. The 500 Series is well known for its superior audio and video quality, product flexibility, and competitive total cost of ownership for boardroom conferencing and mission-critical operational video communication solutions.

Hajtek Chairman and CEO Mirko Wicha has worked with technology companies for more than 20 years and held senior executive positions at Discreet Logic, Autodesk Inc., Alias|wavefront, Alias Research Ltd., and Silicon Graphics Inc. Francois Gariepy, Hajtek's president, has more than 20 years of experience in the telecom, software, and hardware industries with companies such as Teleglobe, CAE Electronics, Virtual Prototypes Inc., and Miranda Media Networks. Hajtek has received private equity funding to help fund the acquisition of Miranda Media Networks' assets.

About Hajtek Vision Inc.
Hajtek Vision Inc., based in Montreal, (Canada) designs, manufactures, and sells high-end professional broadband conferencing and video solutions for distance education, corporate and operational conferencing, security surveillance, and mission-critical applications worldwide.


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Related Keywords:Hajtek, Miranda, Videoconferencing, Hajtek Vision, Miranda Media Networks, Miranda Technologies, Mirko Wicha, Francois Gariepy,


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