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More dollars for Deep Video

By Phil Boeyen, ShareChat Business News Editor

Monday 6th November 2000

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New Zealand tech investor IT Capital and The Warehouse founder Stephen Tindall are reaching into their wallets for another $5 million for display screen technology company Deep Video Imaging.

"The funding - the second round this year - signals our continued confidence that DVI is a solid investment with strong growth prospects in international liquid crystal display screen markets," says IT Capital managing director Keith Phillips.

"The company continues to show progress in many areas, including the assembly of a sales and marketing team and the forging of important partnerships with manufacturers and content developers."

Under terms agreed in August 2000, IT Capital and Mr Tindall, through his private investment company Tindall Family Holdings, will each invest $2.5 million in DVI over the next 12 months through a series of installments.

Both companies currently have a 40% stake in the LCD maker, and the new cash injection will increase that to 41.8% each.

"DVI is delighted to receive this significant capital boost that will enable us to move ahead with the global expansion of our unique technology," says DVI general manager, Gabriel Engel.

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