ASX Announcement. 9 March 2018
New York, NY - March 9, 2018 - Linius Technologies Limited (ASX: LNU) (Linius or Company) today announced an agreement with US-based MediaAMP Inc to test in a proof of concept project (POC) the power of Linius Cognitive Search, along with leading artificial intelligence provider, IBM Watson.
MediaAMP serves a customer base of over 45 schools including major university systems like University of California, University of Washington and Arizona State University, providing a video-first digital asset management platform, underlining technology and support.
The purpose of the POC will be to show how users can search within videos and instantaneously return only the relevant parts of a video, or videos, stitched together into a personalized search result. This is standard practice with text-based search and only Linius can do this with video. Upon successful completion of the POC, MediaAMP intends to integrate the Linius technology into the MediaAMP platform under license on commercial terms.
Laurens Banker, the CEO of MediaAMP commented, "We are always looking to bring the latest technology and advancements to the MediaAMP platform, and that's where Linius comes in. With the Linius technology integrated into our platform and video accessible as data, our customers will have the opportunity to unlock boundless options across vast collections of video content."
Linius' Executive Vice President, Ken Ruck, said "Linius is targeting many categories with our Search capability including Sports, News, corporate communications and education. Our strategy is to prove the capability with a market leader, such as our recently announced agreement with Oklahoma State University, then find the market leader in the sector, in this case MediaAMP, to take the proven formula to market. In this way we can scale the business into each sector much faster."
The POC will commence this month.
About Linius Technologies Limited
Linius Technologies Limited (ASX:LNU) has invented and patented the Video Virtualization Engine™ (VVE), which is available on Amazon Web Services, Microsoft Azure and IBM Cloud.
Amazon, Microsoft and IBM are investing billions in virtualizing video services (technologies) and artificial intelligence in the cloud. It is arguably the biggest battle on the internet, given that video accounts for nearly 80 percent of internet traffic.
Only Linius can expose the data that makes up the video file, making cumbersome video as flexible as all other forms of data. Accessing the data within the video file is the missing link for video cloud service providers, creating unparalleled value across the internet video industry.
Linius has the potential to transform many multi-billion dollar markets, and is initially focused on:
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