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Motorola Broadband Communications Sector Invests in Dynamic Digital Depth Inc.
HORSHAM, Pa. & SANTA MONICA, Calif.--(BUSINESS WIRE)-- Jan. 24, 2000-
Investment Made to Speed the Delivery of 2D Compatible
3D Cable Television to the Home
Motorola, Inc. (NYSE:MOT - news) Broadband Communications Sector (formerly General Instrument Corporation) and Dynamic Digital Depth Inc. (CDNX:DDE - news) announce that Motorola has invested in the expansion of Dynamic Digital Depth Inc. (DDD) and its 3D cable television technology. This investment makes Motorola a significant participant in the US$3.25 million private placement of equities securities by DDD.
Motorola's investment decision was influenced by the positive reactions to DDD's DeepSee(TM) 2D compatible 3D(TM) transmission technology demonstrated on Motorola's DCT-5000+ advanced interactive digital consumer terminal at the 1999 Western Cable Show in Los Angeles.
DeepSee(TM) technology enables operators to overcome the lack-of-3D-content barrier by converting new and existing 2D programs to high-quality 3D that can be decoded in advanced set-top terminals. The 3D programming can be viewed in either 2D or 3D on viewer demand. DDD believes that it is the only company that provides broadcasters and content providers with 2D or 3D programming options that can be controlled by the press of the button.
Motorola Broadband Communications Sector's relationship with DDD dates back to June 1999 when the two companies entered into a development agreement to integrate 3D into Motorola's consumer set-top terminals.
''We are pleased to work with DDD in bringing 2D compatible 3D cable television to the marketplace,'' said Dick Smith, Corporate Vice President and Director of Business Development of the Motorola Broadband Communications Sector. ''The enthusiastic response to DDD's DeepSee technology at the Western Show further indicated that DDD is filling a real desire in the market. Now, the cable industry finally will have the means to offer 3D programming.''
''The demonstration of our combined technologies at The Western Show was a great success and we are extremely pleased with the continued participation of Motorola in our company,'' said Neil Speakman, chairman and CEO of DDD.
The placement involves the issuance of 1,000,000 units at a price of US$3.25 per unit with each unit being comprised of one share and one warrant. Each warrant is exercisable into one additional share at a price of US$3.58 over a two year period.
About Motorola
Motorola, Inc. (NYSE:MOT - news) is a global leader in providing integrated communications solutions and embedded electronic solutions. These include:
Software-enhanced wireless telephone, two-way radio, messaging and satellite communications products and systems, as well as networking and Internet-access products, for consumers, network operators, and commercial, government and industrial customers.
Digital and analog systems and set-top terminals for broadband cable television operators.
Embedded semiconductor solutions for customers in the networking and computing, transportation, wireless communications and imaging and entertainment industries.
Embedded electronic systems for automotive, communications, imaging, manufacturing systems, computer, consumer and industrial markets.
Sales in 1999 were $30.9 billion.
For more information, visit Motorola on the Web at www.motorola.com.
About DDD
DDD's patented DeepSee(TM) technologies provide efficient and cost-effective solutions for converting 2D material to stereo 3D, and transmitting 2D compatible 3D(TM) content via Internet, television, film and DVD. The company is publicly traded on The Canadian Venture Exchange under the symbol CDNX:DDE. For more information, please visit the company's Web site at www.ddd.com.
The Canadian Venture Exchange has neither approved nor disapproved the information contained herein. |
