Raystream Announces New Contract Win in Europe
European video production company Laterna Magica to offer high quality, low-bandwidth HD video using Raystream's compression solution
DALLAS, Nov 08, 2011 (BUSINESS WIRE) -- Raystream Inc. RAYS -48.97% , an emerging global provider of HD video services, today announced a new partnership with Laterna Magica, a video advertising production company based in Germany and South Africa. Laterna Magica provides video services to clients like Nestle, Lufthansa, Alfa Romeo, and Danone.
"The Laterna Magica contract is in line with our global expansion strategy," stated Brian Petersen, Raystream's CEO. "We are receiving a number of inquiries from companies worldwide that provide an array of video services. Laterna Magica is the first of what we anticipate will be a long line of online video services businesses around the world that will realize the significant benefits of Raystream's HD video compression technology."
Carsten Bohlefeld, CEO of Laterna Magica, commented, "We were skeptical at first because Raystream's technology seemed too good to be true. But after careful evaluation, both technically and commercially, we discovered that Raystream's technology will give us the competitive edge we were looking for to deliver a much better video experience for the consumer at an attractive cost savings for us. We're convinced Raystream's technology will significantly expand the yet untapped possibilities for delivering dynamic and cost-effective online video advertising for our clients."
"We're pleased that Laterna Magica's due diligence has proven that our technology capabilities deliver the benefits Raystream has been communicating to the video services market. They work with a long list of very well known consumer brand companies, as well as companies known for their technology manufacturing prowess all over the world," Petersen said. "This is a great opportunity for Raystream and Laterna Magica to showcase the extraordinary benefits of Raystream's video compression technology."
About Raystream
Raystream Inc. is bringing its proprietary video compression technology to businesses and consumers worldwide. This technology drastically decreases bandwidth costs by reducing the file size of HD videos up to 90 percent, with an average of approximately 70 percent, and with no loss in clarity or quality -- so they can be streamed online without buffering or stopping. Raystream's technology puts high definition video in the reach of nearly every Internet user on the globe. Click here to see the future of online video.
Raystream is a public company quoted on the OTC BB under the symbol RAYS. For more information, please visit us at www.raystream.com .
About Laterna Magica
Laterna Magica has been offering video production services for 17 years, specializing in video ads for TV and cinema, movie trailers and web video for large corporations. Based in Frankfurt am Main, Germany, Laterna Magica has offices in Dusseldorf, Germany, and Cape Town, South Africa.
Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Raystream Inc.'s filings with the Securities and Exchange Commission, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE: Raystream Inc.
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