Scitex Invests in RealTimeImage
Scitex invests in start-up, a leading developer of robust
Internet-based imaging products and services
Herzlia, Israel, & San Mateo, CA, January 30, 2000
Scitex Corporation Ltd. (NASDAQ: SCIX) today announced it has invested in RTimage Ltd. (“RealTimeImage”), a leading provider of professional Internet-based imaging products and services for the graphic arts and medical communities. This investment is in addition to an $8 million round of financing recently completed and announced by RealTimeImage. Following the investment, Scitex will hold approximately 13% of the company’s shares on a fully diluted basis, joining RealTimeImage’s existing investors; Intel 64 Fund, ComSor, Citicorp, Newbury Ventures, THCG, Inc. and TDA Capital Partners, Inc. The investment is part of Scitex’s strategy to pursue emerging Internet opportunities in relevant markets, and will fuel RealTimeImage’s implementation of innovative Internet-based services for graphic arts, pre-press and printing professionals, as well as development of new Internet e-services opportunities.
Since 1998, Scitex and RealTimeImage have partnered in the distribution of the software developed by RealTimeImage, Scitex RenderView™. Scitex introduced the Scitex RenderView solution to the commercial print community through its worldwide channels. Scitex currently provides a complete and open RenderView-based solution that includes tight integration with the Scitex® workflow, Brisque™ and Scitex Timna™ servers, and client side calibrated proofing capability using Iris® printers.
Vio, a leading application service provider for the graphic arts industry, also offers the RenderView technology as an integrated part of its application offering. Vio is a joint venture between Scitex and British Telecom.
“This investment in RealTimeImage follows Scitex’s strategy of expanding its activities, to include Internet companies holding leadership in the graphic arts and related media industries. As with RealTimeImage, Scitex will build a network of cooperation between its various entities sharing technologies, management insights and cross marketing” said Yoav Z. Chelouche, President and CEO, Scitex Corporation Ltd.
“Scitex identified early on the potential of RealTimeImage technology to improve graphic arts collaboration workflow involving large image files,” said Itai Halevy, Vice President, Business Development & Strategic Planning, Scitex Corporation Ltd. “Our investment is an additional step in further strengthening our successful relationship with RealTimeImage. RealTimeImage’s success has resulted from its ability to adapt to changing market needs and to aggressively pursue new opportunities. Scitex is pleased to partner with visionary companies such as RealTimeImage and we look forward to expanding our business relationship and deliver the benefits of new technologies to professionals world-wide. RealTimeImage’s Pixels-on-Demand image streaming technology is an indispensable component for creating an Internet gateway to the future of printing.”
“RealTimeImage and Scitex share the common goal of introducing and implementing new Internet-based technology and services to provide Internet efficiencies to the graphic arts community,” said Zvi Eintracht, President and CEO, RealTimeImage. “Scitex’s support provides us with continued momentum and leadership in our efforts to empower the graphics community. RealTimeImage is committed to providing innovative e-services that improve the workflow process and result in lower operating costs and faster turnaround cycles.”
RealTimeProof™, RealTimeImage’s online proofing service, is the e-service version of the Scitex RenderView™. Scheduled to launch at Seybold Seminars Boston/Publishing 2000 (Booth #319, Hynes Convention Center), RealTimeProof is the first one-stop, online proofing service based on Pixels-On-Demand™ technology and offers unsurpassed imaging quality in real time. Graphic arts professionals such as print companies, pre-press shops, advertising agencies, designers and photographers can take advantage of RealTimeImage’s powerful new technology with no capital investment and an easy pay-as-you-go model.
With RealTimeProof, gigabytes of original production data can be viewed without conversion in full resolution with a Web browser, even over a dial-up connection. Organizations using RealTimeProof will collaboratively view and edit full resolution files in real time, resulting in greater efficiency and faster turnaround times.
