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MillimeterMiranda Technologies Launches Miranda Media Networks
Sep 17, 2001 12:00 PM
Saint Laurent, Quebec (September 6, 2001) -- Miranda Technologies announced that it has launched Miranda Media Networks, Inc., a new fully owned subsidiary, following a joint investment of $19 million in Miranda by SGF Tech Inc., a division of the Société générale de financement du Québec, BDC Venture Capital, a division of the Business Development Bank of Canada and Investissement Desjardins. The launch of the new company also follows Miranda’s acquisition and integration of GDC’s Montreal-based Multimedia Division in early July.
“The acquisition of GDC Multimedia’s business and products, together with the new investment, provides Miranda Media Networks with a powerful position in the expanding and lucrative interactive broadband delivery market,” said Miranda President Christian Tremblay. “This includes applications such as broadcast, program production, video conferencing, telemedicine, distance learning, and telejustice.”
“Montreal is a center of excellence in the video industry and Miranda is one of its leaders,” said SGF Chairman of the Board and Chief Executive Officer, Claude Blanchet. “Reinvesting in Miranda is one way of strengthening the market position of both.”
“This is our third equity financing in Miranda since our initial investment back in the spring of 1997. We are very pleased with the company’s performance, and proud to participate in the expansion of a world-class business,” said BDC Venture Capital Managing Director, Robert Inglese.
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