TORONTO -- MM Venture Partners is pleased to announce the completion of a $2.5 million venture financing with Ottawa based Telexis Corporation. Telexis is a leader in providing networked video solutions for the telecommunications, security, remote monitoring, and corporate communications markets.
Digital Video over IP (Internet Protocol) is one of the fastest growing and most exciting sectors of Internet technology today. The increased availability of bandwith at lower costs paired with improved video technology standards is paving the way for widespread use of digital video over IP.
Telexis is a world leader in providing networked video over IP (Internet protocol) solutions. Telexis' video monitoring and digital video recording devices can be integrated with existing and emerging telecommunications networks, with minimal additional infrastructure investment required. Telexis has developed a digital video platform that allows for the seamless delivery of digital video over existing networks and infrastructures.
Telexis Corporation develops and markets products which enable IP vision, allowing users to view any digital video, anytime, anywhere. The company's product suite turns any communications network into an immediate resource for video delivery with real-time capture, streaming and distributed video storage capabilities. A video over IP solution leverages an enterprise or carrier customer's existing network investment thereby improving return on investment by generating additional revenues or improving the cost of operations. Video over IP is emerging as a key enabling technology.
With Telexis' ViaNet DVR, any computer on a TCP/IP network can access digital video records stored on a ViaNet DVR unit. Additionally these PC's can view real-time video from remote sites.
"Given the current trends and paradigm shifts in the internet services industry Telexis is uniquely situated to take advantage of the new economy" said MM Venture Partners Managing Partner Minhas Mohamed. "We are very pleased with the strategic alliances that Telexis has developed with companies such as NCR and @Security to provide video solutions and take advantage of the potential applications for digital video over IP"
Telexis began in 1986 providing engineering services. In 1996 Telexis underwent a strategic shift and moved into networked video solutions. Telexis is located in Kanata and employs 70 people.
Telexis CorporationTelexis Corporation, an Affiliate of Newbridge Networks Corporation, is a world leader in providing networked video over IP (Internet Protocol) solutions. The company develops, manufacturers and markets sophisticated video, audio and image processing products for the telecommunications, security, remote monitoring and corporate communications markets. Telexis' video monitoring and digital video recording devices enable video to be integrated with existing and emerging telecommunications networks, with minimal additional infrastructure.
MM Venture Partners MM Venture Partners is the General Partner of the $150 million GATX/MM Venture Finance Partnership. This privately held venture capital fund focuses exclusively on public and private technology companies in Canada. MM Venture Partners has focused specifically on a niche in the capital markets by providing venture debt financing to Canadian information technology and biotechnology companies. The fund's partner, San Francisco based GATX Capital Corp., is a global diversified investor.
CONTACTS:
MM Venture Partners
Mr. Ron Patterson
Tel: (416) 977-9718
Fax: (416) 591-1393
rpatterson@mmvp.comTelexis Corporation
Andre R. C. Rancourt
Tel: (613) 591-8181
Fax: (613) 591-7337
arancourt@telexiscorp.com