Iomega Signs Multi-Million Dollar Purchase Order for Zoran JPEG Chips
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 25, 1997--Zoran Corporation (NASDAQ:ZRAN) announced today that Iomega Corporation has signed a multi-million dollar purchase order for Zoran's JPEG chips to be included in Iomega's new Buz(TM) multimedia producer. The new Buz(TM) multimedia producer is a video capture and editing board that is used with Iomega's Jaz(R) and Zip(TM) disks to provide the easiest way to get multimedia from camcorders, DVD-ROMS, CD-ROMS, VCRs, laser disc players and digital cameras into a PC. The Buz product is expected to begin shipping in the fourth quarter of 1997.
``We chose Zoran because of their field-proven JPEG technology and leadership position in the JPEG business,'' said Maury Domengeaux, director of Jaz product marketing for Iomega Corporation. ``Zoran's cost-effective JPEG chips have enabled us to provide an affordable and easy-to-use consumer video product. The Buz multimedia producer will enable PC users to personalize and enjoy home movies as never before.''
``We are very pleased to be providing our JPEG technology to an industry leader such as Iomega,'' said Dr. Isaac Shenberg, vice president of sales and marketing for Zoran Corporation. ``The initial agreement with Iomega is one of the largest single purchase orders for JPEG chips ever received by Zoran. We believe that using low-cost, high-capacity storage devices such as the Jaz disks, is the first step in bringing quality video into the homes of non-professional PC users. We hope to further expand the reach of our JPEG technology into the high-volume consumer markets.''
Why isn't there news on these boards about this? I "make-believe bought" Iomega Dec 1, 1995 because as a computer graphics artist, I saw that ZIPs were backordered severely. I missed a couple of fantastic growths and splits and then decline, and stopped following the stock, because I didn't see anything new in R&D... but I did become the founder of a NAIC investment club, and have other tech stocks doing nicely (CSCO, COMS, ADCT and yes, even PAIR today is almost black in my portfolio). I like my ZIP and 16 disks at home, and more at work which I instigated the purchase of. And so now I have more than intuition when looking at a stock: I look at the Fundamentals too.
I want to start following IOM again.
1. Why is it only on the Expanded Valueline?
2. Why is there no news about the announcement of the purchase of Zoran chips? Is BUZ seen as not a profitable chunk of earnings potential? It seems like a good idea to me: I just bought Macromedia Director today for $480; BUZ looked interesting.
thanks,
Etana Finkler |
