Zenverge Receives New Investment from Verizon

SANTA CLARA, Calif., Aug. 28, 2012 /PRNewswire/ -- Zenverge, Inc., a leading developer of content networking ICs, today announced that it has closed a strategic round of financing led by Verizon Investments LLC, a subsidiary of Verizon Communications Inc, with participation from Zenverge's existing investors. Verizon Investments is an affiliate of Verizon Ventures, the strategic venture capital arm for Verizon. Zenverge will use the funds to accelerate the deployment of media gateways through its growing list of tier-1 operators. The funds also enable Zenverge to increase its competitive advantage by accelerating its roadmap of higher performance ICs and lower cost system solutions.

The Zenverge ZEN family of ICs was developed with a powerful multi-stream TransALL™ Transcode engine that supports processing up to four HD streams simultaneously in a compact, power-efficient, and cost-effective manner. The TransALL™ Transcode core provides a ubiquitous media experience for consumer electronics manufacturers, service providers and their customers with its ability to TransFormat™, TransRate™, TransScale™, TransCopy™, TransZip™, TransCrypt™, TransQoS™ and TransWrap™ broadcast content for delivery to all IP connected devices.

"Zenverge content networking ICs are enabling operators to lower costs while introducing new TV viewing experiences to consumers," said Zenverge CEO, Amir Mobini. "Verizon's track record of providing their subscribers with leading edge products and services, combined with Zenverge's revolutionary solutions, paves the path to faster deployment of these enhanced experiences."

"As consumers seek new levels of access to broadcast and DVR content in the TV Everywhere eco-system," said Daniel Keoppel, Executive Director at Verizon Ventures "there is a great need for low cost, high performance transcode technology."

About Zenverge

Zenverge is a fabless semiconductor company devoted to accelerating consumer access to next generation digital content and services. The company is a leading developer of Advanced Content Networking ICs built around the patented ZEN architecture, a core technology for next generation digital media devices. The company is based in Santa Clara, California. For more information please visit the company website: www.zenverge.com.

SOURCE Zenverge