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Edgeware Secures $8 million in Series B Financing

Second round of financing, led by Micron Technology, to accelerate global presence and strengthen position in North American market
Stockholm, Sweden(3/17/2009) -

Edgeware, the leading provider of flash memory based servers for network deployed delivery of TV and video services, today announced it has closed a $8 million series B round of funding led by new investor, Micron Technology with full participation from Edgeware’s Series A investors, Amadeus Capital Partners and Creandum Advisor.



The funds will be used to accelerate Edgeware’s increasing presence in the global market. In particular, it will strengthen the ambitions in the North American market where the company already has a number of key customers.



Edgeware provides server systems and associated technology for TV services over the Web and for TV on-demand services in Telco and cable network environments. Edgeware was founded in 2004 with the idea of merging delivery capability of on demand TV and video services into the service provider network, using highly efficient dedicated network appliances.



“We were attracted by Edgeware’s novel use of NAND flash memory as the sole storage in their demanding carrier applications, completely eliminating the use of rotating media,” said Ian Blasch, managing director of Micron Ventures, the venture arm of Micron Technology. “Rather than simply using off-the-shelf solid state disks or SSDs, they have developed a unique architecture around flash memory and that gives them a number of compelling advantages - performance being one of them.”



Different from competing products that are usually based on generic computer hardware, Edgeware’s servers are dedicated, highly efficient network appliances that are deployed in anything from central clusters to highly distributed architectures. Edgeware uses a combination of NAND flash memory storage and a hardware implemented data plane to obtain a solution which is highly reliable and by orders of magnitude smaller in footprint and power consumption.



“With this capital injection we are well positioned to actively expand our business, when many of our competitors are downsizing,” says Joachim Roos, CEO of Edgeware. “Our customers continue to invest in infrastructure for home entertainment. The fact that we manage to secure funding like this under current conditions in the financial sector sends a strong message.”


About Edgeware



Edgeware is the supplier of revolutionary server systems for on-demand TV, setting new industry standards for video streaming over IP. Edgeware enables Video On-Demand (VoD), Time Shifted TV, Web TV and Ad-insertion services, with unmatched scalability and at the lowest investment and operational cost on the market.



In 2006 Edgeware pioneered using flash memory by launching a fully solid state flash memory based network appliance, for truly distributed deployment. By combining solid-state flash memory and hardware accelerated streaming, Edgeware offers the most integrated, reliable and power efficient appliances in the industry. The systems solution includes dynamic asset propagation and management to enable highly scalable and resilient architectures with central clusters in combination with caches distributed deep into the network. Caching popular content close to the viewers means substantial savings on network infrastructure and shortened time to market. Edgeware´s server systems have been deployed around the globe by leading Telcos and cable MSOs, and more recently by over the top service providers.



The company is headquartered in Stockholm, Sweden, with a U.S.-based office in San Jose, California.



Edgeware is nominated for the 2009 IPTV World Series Awards in two categories:
"Best On-Demand Technology for IPTV" and "Best Internet TV Technology/Solution".
These solutions will be
showcased at IPTV World Forum in London, March 25-27, Booth 226.



www.edgeware.tv


Edgeware
Editorial Contact:
Nicole Hegg
303-752-3552 x. 230
nicole@visitechpr.com