SAN JOSE, Calif., June 21 /PRNewswire-FirstCall/ -- NeoMagic Corporation (Pink Sheets: NMGC), a pioneer in developing mobile multimedia solutions and WorldGate (OTC Bulletin Board: WGAT) a leading provider of innovative, IP multimedia telephony services, today announced the signing of an agreement for NeoMagic to sell WorldGate digital phone and video service, including WorldGate's "Ojo® Vision" video phone.
"We are excited about the opportunities WorldGate presents to NeoMagic and our customers," said Syed Zaidi, NeoMagic Corporation's President and Chief Executive Officer. "Their pioneering turn-key digital voice and video phone service is complementary with NeoMagic's mission to provide our customers' with complete system solutions. We look forward to begin selling WorldGate's digital phone and video service."
"WorldGate's goal is to be the leader in providing consumer IP-based video telephony solutions," said George E. Daddis, Jr., CEO of WorldGate. "By working with NeoMagic, we believe we can accelerate the delivery of our ground-breaking telephony solutions to the consumer base. We are excited to work with NeoMagic in delivering our solution to market."
NeoMagic will make available to consumers the innovative technology of the "Ojo® Vision" video phone and NeoMagic will provide a portal on their website for customers to link to WorldGate video phones and service.
Founded in 1996, WorldGate is a leading provider of digital voice and video phone services and next generation video phones that unite the lives of people in an effortless and affordable way using advanced software, networking and video technologies. WorldGate's unique combination of functional design, advanced technology and innovative use of IP broadband networks brings stunning, next generation communication to life. In addition to offering the latest in video technology, WorldGate provides a turn-key communication services platform and complete back-end support services with best-in-class customer service. As a result, WorldGate brings family, friends and business associates closer together through an entirely new way to experience personal communication. For more information, please visit www.wgate.com and www.wgatephone.com .
NeoMagic designs and delivers consumer electronic device solutions with semiconductors and software offering exciting new product functionality for Video, TV, Imaging, Graphics, and Audio. We provide low cost, innovative multimedia chip technology for tomorrow's entertainment and communication needs. Our capabilities give our partners and their customers' high quality answers to excite and enhance the consumer's lifestyle.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include statements about our future product development, strategic partnerships, marketing efforts and growth. These forward-looking statements reflect current expectations. However, actual events and results could vary significantly based on a variety of factors, including our need for additional funding for our operations, the ability to locate and hire qualified personnel, the inability to reach agreement with strategic partners on a timely basis and on acceptable terms, changes in competitive conditions and market acceptance of our new products and technologies. Additional risks and uncertainties are discussed in NeoMagic's most recent annual report on Form 10-K for the year ended January 31, 2010, filed on May 17, 2010, filed with the United States Securities and Exchange Commission (SEC), which is available online at http://www.sec.gov. NeoMagic may, from time to time, make additional written or oral forward-looking statements, including statements contained in filings with the SEC and reports to shareholders. NeoMagic does not undertake the obligation to update any forward-looking statements that may be made by or on behalf of the Company, except as may be required by law.
NeoMagic is a registered trademark of NeoMagic Corporation. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.
SOURCE NeoMagic Corporation