RICHARDSON, Texas, Oct. 22, 2003 (PRIMEZONE) -- Immediatek, Inc. (OTCBB:ITEK), the maker of NetBurn Secure(tm) CD burning and copy-control software, today announced that it is acquiring the key assets of Incanta, Inc., through a stock transaction. Incanta, which was based in Atlanta, GA, provided turnkey custom content delivery for broadband service providers utilizing a patent-pending secure delivery system.
Incanta was venture-backed by Mosaic Venture Partners, Intel Capital, AT&T Canada, and others, and ceased operations in March of 2002 after it could not raise additional funding. During its three-year life, Incanta had three rounds of funding totaling almost $20 million.
Immediatek said it is acquiring the assets from Incanta co-founder and CTO John Brothers, who bought the assets out of bankruptcy earlier this year. As part of the deal, Brothers will provide advisory services to Immediatek.
"I'm very pleased and excited to be working with Immediatek to continue Incanta's innovations in the arena of online music," said Brothers. "The combination of Immediatek and Incanta technology will represent a big win for the music community."
Immediatek founder and CEO Zach Bair said that the assets, including a multi-format media player similar in functionality and ease-of-use to Apple's iTunes (Nasdaq:AAPL) will be used to enhance the company's strategy in delivering secure media.
"Incanta Music, which includes the Incanta Media Player and a comprehensive back-end system, is the ideal component to enhance the user experience and to deliver NetBurn Secure in a whole new way," said Bair. "We are planning to deploy our Secure Burning Kernel as a plug-in which will initially be used in the Incanta player, but will also work with other leading media players. The plug-in will allow secure burning directly from a playlist, and will add an extra layer of protection for artists, labels and content providers, but it will still allow maximum playability and limited legal file sharing."
The asset purchase also includes the Incanta name, logo, related intellectual property and web domain.
About Immediatek
Immediatek, Inc. is the leader in secure disc burning and media delivery technology, offering its patent-pending "one-click" NetBurn(tm) and NetBurn Secure solutions to record labels, content providers and artists. NetBurn Secure uses proprietary military-grade DES encryption techniques, and combines components from SunnComm, Inc. and Microsoft (Nasdaq:MSFT) to deliver a secure burn solution. Immediatek is helping to curb Internet piracy by offering legal downloading and burning options. For more information visit the company website at http://www.immediatek.com.
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