VideoLogic Changes Name to Imagination Technologies
VideoLogic has today announced that it is changing its name to Imagination Technologies. From September 1st 1999 VideoLogic Group plc will be renamed Imagination Technologies Group plc and its subsidiary VideoLogic Limited will be renamed Imagination Technologies Limited.
The new name reflects the changed emphasis of the Group on developing and licensing innovative technologies for digital entertainment and consumer electronics. The Group now derives the majority of its revenues through the licensing of its patented technologies across a range of platforms including arcade systems, videogame consoles, PCs and set-top-boxes. Future target platforms will include mobile computers and home network devices.
Says Hossein Yassaie, president and chief executive officer, Imagination Technologies: "We are positioning the company to take full advantage of the digital and Internet era which provides us with a host of emerging opportunities for our technology. Under the Imagination Technologies Group name we will continue to build upon the strong PowerVR and VideoLogic brands for our Technology and Systems activities respectively. We believe Imagination Technologies is a more appropriate name for the company we have become and our future direction."
Imagination Technologies Limited will initially operate with two divisions, PowerVR Technology and VideoLogic Systems, and will continue its innovation in human/ computer interface technologies.
The PowerVR Technology division develops and markets the unique PowerVR graphics/video technology. Existing partners licensing the technology include NEC and STMicroelectronics and further licensing agreements for PowerVR are expected in due course. PowerVR Technology design wins have included Sega's latest console, Dreamcast, the Naomi Arcade Systems used by most of the world's leading arcade content developers, and numerous PC add-in and OEM customers. More information is available on the PowerVR Technology web site at www.powervr.com.
The VideoLogic Systems division will continue to exploit the strong brand equity attached to the VideoLogic name with a range of innovative systems level products demonstrating and promoting our technologies and also acting as pathfinders for new complementary technologies. VideoLogic Systems already has a considerable portfolio of award winning products in the areas of graphics and sound acceleration, home audio systems, video-capture and video-conferencing on which it will continue to build. As part of its activities VideoLogic Systems provides a major input into Imagination Technologies' overall research and development roadmap. More information is available on the VideoLogic Systems web site at www.videologic.com.
It is planned that further divisions will be added in the future as new complementary technologies are developed by the company as it follows its strategy to address the total human computer interface.