• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

ESPRE Solutions, Inc. And MyE Networks Sign a Joint Venture Agreement to Distribute Scholastic Sports Video Content

Posted on: Friday, 14 July 2006, 12:00 CDT

PLANO, Texas, July 14 /PRNewswire-FirstCall/ -- ESPRE Solutions, Inc. , a Dallas-based media solutions and technology company with a revolutionary and patented video compression technology, today announced that it has signed a joint venture agreement with MyE Networks, a technology and mobile marketing company based in Denver, Colorado.

Under the agreement, ESPRE Solutions, Inc. and MyE Networks, Inc. have formed a Joint Venture under the name Global Video Networks (GVN). The partnership combines the strengths of both companies and the key goal of GVN will be to become the preeminent distributor of scholastic sports content over the Internet. GVN will be capable of delivering scholastic video content to computers, set-top boxes and mobile devices. The service will allow high schools and other educational institutions to upload videos of full-length athletic events such as basketball, football or baseball games and stream the content over the Internet. Viewers of the service are anticipated to be students, parents, grandparents, coaches and college scouts. It is also anticipated that local media companies will want access to this valuable content. The revenue model is primarily based on online advertising and sponsorships, however additional sources of revenue are anticipated in the form of subscriptions and sale of value added offerings. The longer-range plan for GVN is to expand into other types of specialized, vertical content where there is regional demand.

MyE Networks has successfully developed products for the education, media, business-to-business, business-to-consumer and professional sports markets. Specifically, MyE Networks provides online community tools to schools and local media groups and, since 2004, has captured in excess of two million users. In February of this year, ESPRE entered into a license agreement with MyE Networks to provide ESPRE's JAVA-based video media toolkit allowing MyE Networks to video-enable their product solutions for their online communities. This license agreement will remain in effect and its purpose is separate from that serviced by this newly formed Joint Venture. And, it is important to note that MyE Networks expects the first initial product rollout under the February license agreement to be at the beginning of the school year starting in September 2006.

MyE Networks will be responsible for sales and marketing, as well as funding the venture, which is anticipated to be in the range of $15 Million. ESPRE will be the lead technology provider and be responsible for developing first-to-market, customized video solutions with functionality specifically designed with high school film students in mind.

"Imagine being able to watch your former high school football team compete against a regional rival from the convenience of your computer screen. This partnership delivers on that vision by utilizing ESPRE's award-winning PC and mobile video solutions and marketing the customized solutions through MyE Network's scholastic customer base. Major providers such as Google, YouTube and MySpace have demonstrated the overwhelming demand for unique video content over the Internet. GVN will differentiate by delivering more relevant and higher quality video content to the high school sports enthusiast," states Greg Jablonski, CEO of MyE Networks.

Pete Ianace, ESPRE Solutions' CEO, adds, "This partnership could never have formed were it not for the dynamic synergy and shared vision of both companies. ESPRE has made a name for itself by delivering award winning, breakthrough solutions using its proprietary video compression technology. This partnership brings together a great video delivery system and unique content that is not readily available anywhere else. Never before has it been possible for a distant relative or even collegiate scout to remotely watch their favorite high school athlete compete. GVN promises to deliver on this vision."

About ESPRE Solutions, Inc.:

Plano, Texas-based ESPRE Solutions is a public company and groundbreaking media collaboration solutions provider that fulfills the promise of TV-quality streaming video over the Internet-even at dial-up speeds as low as 28Kbps. ESPRE Solutions intends to be the video applications provider of choice for Internet Service Providers, Fortune 1000 corporations, and institutions worldwide, adding both narrowband and broadband video to traditional voice and data applications. ESPRE Solutions' eView product suite provides an integrated solution for business and personal communications. To learn more about ESPRE Solutions, or to experience the company's pioneering eView technology, visit http://www.espresolutions.com/ .

About MyE Networks:

MyE Networks is a technology company based in Denver, Colorado. MyE Networks has developed products for the educational, media, business-to- business, business-to-customer and professional sports markets. Products include communication engines that allow an entity to instantly and simultaneously communicate with large groups of people via all vital communication platforms and an online business listing service. For more information, please visit MyE Networks website at http://www.myenetworks.com/ .

SAFE HARBOR

Forward-looking statements made in this release are made pursuant to the "safe harbor" provision of the Private Securities Reform Act of 1995. Forward- looking statements made by ESPRE Solutions, Inc. are not a guarantee of future performance.

ESPRE Solutions, Inc.

CONTACT: Jill Schmidt of S&S Public Relations, +1-847-955-0700ext. 9311, jills@sspr.com

Web site: http://www.espresolutions.com/http://www.myenetworks.com/

Source: PRNewswire-FirstCall

More News in this Category