17 July 2017
Village Roadshow invests in Linius
Village Roadshow Ltd (ASX:VRL) and Kirby family interests take private placement of $1.5 million in Linius Technologies Limited (ASX: LNU)
Linius Technologies Limited (ASX: LNU) (Linius) today announced a $1 million private placement of ordinary shares to Village Roadshow Ltd, accompanied by a $500,000 private placement to Kirby family interests.
Robert Kirby, Co-Executive Chairman and Co-CEO of Village Roadshow, commented, “We have followed the Linius story closely and are delighted to back the business with direct investment. We can see many applications for the technology across the video industry.
“Village Roadshow has long been a leading voice in tackling global piracy. We are particularly interested in the anti-piracy solutions that Linius is developing and are actively working together with Linius to introduce its technology to industry leaders in the hope of reducing global piracy.”
Chris Richardson, CEO of Linius, said, “We are very pleased to be working with Village Roadshow, a leader in the global fight against video piracy. Village Roadshow sees the value in Linius’ virtualization technology and the potential to stem piracy and create new revenue streams for studios and distributors.”.
Linius expects to use the net proceeds of the private placement to accelerate its commercialization activities around its patented product, the Linius Video Virtualization Engine™.
The $1.5 million placement will comprise the issue of 30 million ordinary shares at an issue price of $0.05 per share.
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About Linius Technologies Limited
Linius Technologies Limited (ASX: LNU) is set to revolutionise the world of video. The Linius Video Virtualization Engine™ has cracked the code of content intelligence and created the next evolution of video streaming.
Linius transforms cumbersome, static video files into agile, dynamic files that can be easily manipulated on the fly, in order to deliver an enhanced, custom experience for both broadcasters and end-users in any way imaginable, and some as yet to be imagined.
Linius has the potential to transform many market sectors, and is initially focused on:
1. Delivering personalised advertising solutions for broadcasters
2. Video security and reduced piracy
3. Enhancing search engine monetisation
4. Security-service applications
Linius’ patented Video Virtualization Engine™ cuts costs and boost revenues across the multi-billion dollar video industry.
For more information, please contact:
Chris Richardson, Chief Executive Officer
Linius Technologies Limited
T: +61 3 9607 8234
Press and Media: email@example.com
Release link: Village Roadshow invests in Linius