MULTIGEN COMPLETES SUCCESSFUL MULTI-MILLION
DOLLAR ROUND OF FINANCINGInvestors Show Their Support for the Growing 3D Software Company SAN JOSE, California � May 27, 1997 � MultiGen, Inc., the leading realtime 3D authoring software company, announced today that it has completed a multi-million dollar round of funding to support its significant expansion. Safeguard Scientific, LLP (NYSE: SFE), Technology Leaders, Inc. and other existing shareholders participated in this latest round of funding in the company�s 10-year history.
"This funding is significant because it will enable the company to develop new products, broaden its scope of services and provide more complete solutions for its customers. In addition, MultiGen will use these funds to aggressively enter into several new vertical market segments," said David Rolston, CEO and president of MultiGen, Inc.
This announcement comes after a record first quarter, with a second quarter that is currently exceeding all expectations. MultiGen�s growth has been well balanced with strengthening in both domestic and international markets.
"MultiGen�s market leadership, proven by years of product and customer success, is what fueled this funding," said Bob Keith, co-chairman of the MultiGen board of directors and managing director of TL Ventures, a venture capital fund of Safeguard Scientifics. "We are confident that MultiGen will continue to play in strong markets and be the principal provider of software tools for realtime 3D visualization well into the new millennium."
"Silicon Graphics is excited for the opportunity that this funding will create for MultiGen, one of our most strategic relationships in the visual simulation market," said Dave Orton, Senior vice president and general manager of visual systems at Silicon Graphics, Inc.
MultiGen Inc., founded in 1986, is the leading supplier of realtime 3D authoring software for visual simulation, entertainment and CAD visualization applications. Its products, including MultiGen II, GameGenä II and SmartSceneä are used to create 3D objects and scenes for use in realtime applications.
Headquartered in San Jose, California, the company markets its products worldwide directly, through a network of distributors and VARs, and via partnerships with leading computing and realtime simulation companies. Major developers using the software include: Armstrong Laboratory, Disney Imagineering, Full Sail, LEGO A/S, Nintendo Company Ltd. and Sony Interactive Entertainment. Information about MultiGen and its products can be found on the World Wide Web at http://www.multigen.com.
FOR MORE INFORMATION, CONTACT:
MultiGen, Inc.
Chris Stocker
Tel: 408-261-4100
Fax: 408-261-4101
cstocker@multigen.comBrodeur Porter Novelli
Derek Perez
Tel: 408-324-4848
Fax: 408-324-4849
dperez@brodeur.comMultiGen and ModelTime and ModelTime Behaviors are registered trademarks and GameGen and SmartScene are trademarks of MultiGen, Inc. All other trademarks mentioned herein are property of their respective companies.