Press Releases
TeraRecon, Mitsubishi Electric transfers
3D Volume Graphics business to TeraRecon
San Mateo, CA--February
15, 2001: Mitsubishi
Electric Corporation has concluded the sale to TeraRecon of its 3D-volume
graphics business, formerly run by its Semiconductor Group and Real
Time Visualization (RTViz) business unit. Under the agreement, Mitsubishi
Electric will transfer its 3D volume graphics processor technologies
and the RTViz business division, while simultaneously investing in
TeraRecon by subscribing to the company's Series D financing to acquire
new shares valued at $4.5M.
"We are pleased to have been a part of the
launch and development of Real Time Visualization," said Kiyoshi Kawakami,
President and CEO of Mitsubishi Electric & Electronics USA, Inc. "In
a relatively short amount of time, RTViz has emerged as a leader in
volume graphics technology, and we're proud that our support and expertise
has contributed to their success."
"TeraRecon sees tremendous opportunity and
synergy with the volume graphics products and technology developed
and distributed to date by Mitsubishi's RTViz division," stated Motoaki
Saito, MD, President and CEO of TeraRecon, Inc. "RTViz is an acknowledged
world leader in 3D visualization. With this acquisition, TeraRecon
has accelerated its plans to deploy comprehensive, innovative solutions
for next-generation imaging systems. For existing customers of RTViz
and TeraRecon, the acquisition will bring exciting new opportunities
as we continue to develop our entire range of high-performance imaging
technology products and services."
"This is indeed an exciting development
for RTViz and our customers," said Jamie Jacobs, former General Manager
of RTViz and now COO and Executive Vice President of TeraRecon. "Through
this acquisition, we have achieved our goal to obtain the focus and
financial security needed to provide future growth potential, as well
as higher value for our customers, partners and employees. In TeraRecon,
we have found a perfect complement for our technology, products and
business direction. We will now also be able to offer our customers
the entire range of TeraRecon products, technologies and services
in addition to current and planned RTViz products. As a division of
TeraRecon, RTViz will continue with its existing commitments, projects
and deliverables."
Background
High-performance 3D-volume visualization
systems have found a wide variety of applications including medical
treatment, geological surveys and meteorological studies. However,
since these applications demand visualization of internal as well
as surface structures, very large quantities of data must be processed.
This has limited the performance of such visualization systems and
required the use of expensive workstations, thus creating a need for
a cost-effective yet high-performance solution to the volume visualization
problem.
To address the market opportunity, Mitsubishi
Electric developed technologies to enable volume graphics processing
on mid-range PC systems. Commercialized as the "Volume Pro® 500"
accelerator board, these technologies have been delivered to numerous
medical equipment and 3D workstation manufacturers.
Meanwhile, TeraRecon has developed its core
technologies, including advanced volume processing and networking
solutions for medical imaging and other imaging applications. TeraRecon's
products feature the company's own proprietary processor technologies.
Mitsubishi Electric and TeraRecon have determined
that the combination of these technologies will provide for significantly
enhanced business development. Under the agreement, it will be possible
for the companies' combined capabilities in 3D volume processing to
be integrated on a single board or processor in the near future. Such
progressive and advanced developments will be marketed to a variety
of imaging equipment marketplaces, in continuation of the innovative
tradition of both companies.
About Mitsubishi
Electric Corporation
With 80 years of experience in providing
reliable, high-quality products to both corporate clients and general
consumers all over the world, Mitsubishi Electric Corporation (FTSE:
6503q.l) is a recognized world leader in the manufacture, marketing
and sales of electrical and electronic equipment used in information
processing and communications, space development and satellite communications,
consumer electronics, industrial technology, energy, transportation
and construction. With operations in 36 countries, Mitsubishi Electric
Corporation recorded consolidated group sales of over $35bn in the
year ending March 31, 2000. Additional information on Mitsubishi Electric
Corporation is available at www.mitsubishielectric.com.
About TeraRecon, Inc.
TeraRecon, Inc. is a technology-driven provider of advanced 3D imaging
systems for medical and other visualization applications, with solutions
based on its unique and patented image processing technologies. The
company has developed a leading portfolio of products that advance
the performance, quality, functionality, and integration of image
processing and 3D visualization systems. Founded in 1997, TeraRecon
has developed a unique family of powerful processors that are used
in its real-time diagnostic workstations, enterprise-wide 3D imaging
servers using thin-client PCs, color Doppler ultrasound systems, mini
gamma cameras, high performance reconstruction engines, and real-time
volume rendering hardware engines. TeraRecon is a fast growing, privately
held company with headquarters in San Mateo, CA, and branch offices
in Concord, MA; Tokyo, Japan; Osaka, Japan; and Trondheim, Norway.
Contact:
TeraRecon, Inc.
Robert Taylor, Ph.D.
COO & Executive VP
650.372.1100
taylor@terarecon.com
www.terarecon.com
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