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Northzone Ventures invests in T-VIPS


Oslo, Norway - February 21 2005 - T-VIPS AS announced today that it has secured a total commitment of NOK 28 Million in funding from Northzone Ventures and Selvaag Venture Capital.

'T-VIPS is very pleased with the trust demonstrated from two of the leading Scandinavian professional investors. These investments enable us to develop our products and solutions and to finance our current growth phase. In addition to the financing, these investors provide us with broad experience in development of successful, sustainable international companies,' said Johnny Dolvik, CEO and Co-Founder of T-VIPS AS.

T-VIPS targets the professional video over IP market

T-VIPS AS was established in 2004 by a team of former TANDBERG Television employees. The company develops products that enable real-time broadcasting solutions over IP networks for the professional broadcasting market, and the team has spent the time after start-up to develop the technology and its product portfolio.

The T-VIPS products offer cost and quality benefits for the broadcast contribution (e.g. 'studio-to-studio') and distribution (studio to regional distribution points) markets compared to existing satellite and traditional telco based systems. Target customers are major international Broadcasters and Network operators who wish to transmit broadcast-quality video signals over an IP network infrastructure.


Investment in T-VIPS AS
'The market for professional video over IP is expected to grow rapidly and T-VIPS is ideally positioned with competitive products and solutions to target this unfolding market. We are excited by the potential of the T-VIPS investment and are pleased to invest in the company', said Karl-Christian Agerup, Partner of Northzone Ventures.

'The T-VIPS products and solutions are world-class and offer substantial benefits to Broadcasters and Network Operators planning to transmit video over IP networks. The T-VIPS team has the entrepreneurial attitude and industry competence required to compete in a global marketplace and we see this as a very promising investment,' said Erik Sandersen, Partner of Selvaag Venture Capital.


OEM agreement with TANDBERG Television
T-VIPS has signed a global OEM (Original Equipment Manufacturer) agreement with TANDBERG Television. The digital video compression leader will include T-VIPS products in its end-to-end IP contribution and distribution systems for broadcasters and network operators.

'We acknowledge the competence of T-VIPS and want to include their technology in our product portfolio. We look forward to and are excited about a prosperous cooperation,' said Richard Bullock, Business Development Manager, IP Contribution and Distribution, TANDBERG Television.

'We are proud of being selected as partner by TANDBERG Television with our solutions marketed by TANDBERG Television's global distribution and excellent sales force,' said Johnny Dolvik, CEO, T-VIPS.


About Northzone Ventures
Northzone Ventures is a leading Nordic venture capital firm specialized in innovative early stage investments within software, information technology and telecommunications. The company has 8 investment professionals located in offices in Copenhagen, Oslo, and Stockholm, and has invested in more than 40 companies across Scandinavia since it was founded in 1996. Following the recent closing of its fourth investment fund, Northzone manages EUR 170 million in capital commitments from leading Nordic and international private equity investors. For further information, please visit www.northzone.com.


About Selvaag Venture Capital
Selvaag Venture Capital (SVC) is a Norwegian venture capital firm based in Oslo. SVC invests in companies with a global market potential and develops these through active ownership. SVC focus on technology related businesses primarily based in Norway and has since the start in 2001 invested in 12 companies mainly within the IT/telecom, life science and energy sectors. Fo


Publisher Contact Information:

Northzone Ventures
+47 92218767
kca@northzone.com

Company profile of Northzone Ventures
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