NOVATO, Calif., June 13, 2006 (PRIMEZONE) -- An investor group led by software industry veteran Royal Farros and Greyhawk Capital Management has formed IMSI/Design, LLC and has purchased all of the CAD and design assets of Broadcaster, Inc. (formerly IMSI which now trades under the ticker symbol BCSR on the OTC Bulletin Board). These assets include the award-winning TurboCAD(R), DesignCAD, and FloorPlan(R) lines of professional computer aided design (CAD) applications.
"The $650 billion design and construction industry is booming," stated Farros, who will take the CEO spot in the newly formed IMSI/Design. "With a terrific installed base of customers and an outstanding line-up of products, we think IMSI/Design is in a great position to hit the ground running."
Existing senior management and staff will stay with the new organization, providing invaluable leadership and forward momentum.
Said Robert Mayer, former EVP at Broadcaster and new EVP of IMSI/Design, "We now have the organization and resources in place to focus on driving design innovation and to set an aggressive pace in the CAD market."
About IMSI/Design
IMSI/Design, a private company headquartered in Novato, CA, is a leader in CAD (computer aided design) and precision design software. Award-winning products include TurboCAD, DesignCAD, and FloorPlan lines of professional design applications. For more information on IMSI/Design, please see http://www.IMSIdesign.com or contact Information@IMSIdesign.com.
About IMSI/Design Investor Group
Royal Farros has spent over two decades as a technology entrepreneur. His latest venture, MessageCast, Inc., was sold to Microsoft (Nasdaq:MSFT) in 2005. He founded iPrint.com, was an Officer and General Manager at Deluxe Corp. (NYSE:DLX), and was Chairman of desktop publishing pioneer T/Maker Co.
Greyhawk Capital Management is a Ketchum, ID-based investment firm focusing on companies with solid operating results, competitive market positions, and strong management teams. Greyhawk investments span a range of industries, including cellular telephony, distribution logistics, and natural gas production.
TurboCAD and FloorPlan are registered trademarks of IMSI/Design. All other trademarks are property of their respective owners.