NEI's platform hosts advanced video lifecycle management software that delivers high-quality surveillance and performance, while dramatically reducing video storage requirements
CANTON, Mass. , Nov. 17 /PRNewswire-FirstCall/ -- NEI (Nasdaq: NENG), a leading provider of application deployment platforms, appliances and services for storage, security, carrier-class and enterprise communications applications, today announced that TimeSight Systems, an industry leader in Video Lifecycle Management (VLM), is deploying its video surveillance application on an NEI appliance platform.
Driven by the need to eliminate grainy video quality and gaps in video coverage, the demand for high resolution, extended retention video surveillance storage systems is expected by analysts to grow into a multi-billion dollar storage market. Industry experts have noted that the key to addressing the prime obstacle to growth in this sector lies in reducing the mounting storage costs that result from the rapidly increasing deployment of high-resolution, IP-based cameras.
TimeSight's customers capture, view and store surveillance video at the required resolution and retention, while reducing storage requirements and costs by up to 90%. NEI's expertise has enabled TimeSight Systems to meet specific market needs, while focusing on its innovative VLM applications rather than spending cycles on the hardware platform or associated support.
"In today's economic environment, businesses are looking for enterprise-class quality and reliability in a powerful, cost-effective turnkey solution. Combining the competitive hardware design from NEI with the incredible storage savings from our VLM software and video surveillance, users can now easily transition to higher resolution video with longer retention times," said Charles Foley , TimeSight Systems chairman and CEO.
Using NEI's proven approach and experience in application platform development, TimeSight Systems was able to develop a solution that delivers today's required image clarity and retention times, while supporting improved security and compliance. The highly integrated TimeSight Systems' solution saves up to 90% of the cost of existing video recorder technologies. Going forward, TimeSight will continue to provide seamless transition into even higher resolution, stronger video analytics and IT convergence with minimal budget impact.
ABI Research, a leading surveillance research firm, recently projected that revenues from the growth of video surveillance systems will build to
TimeSight Systems researched a variety of options before selecting NEI for its superior performance, solution design and value-add services. NEI's services are helping TimeSight address the challenges faced by enterprise customers -- allowing users to embrace the new generation of high resolution, IP-based video systems without the massive storage costs normally associated with these cameras.
"Our goal is to provide innovative customers like TimeSight with the highest quality product on the market and one that enhances their market position and competitiveness," said Greg Shortell , CEO, NEI. "We work hard to ensure that every detail, from concept and initial design to logistics and support, is addressed before production units are built and shipped. Our goal is to protect our customer's brand at all times."
NEI provides the solution design, integration controls, smart services, global logistics and technical support services required to deliver software applications as network appliances. The company develops appliances that ease deployment and enhance the manageability and security of mission-critical software applications for NEI customers like TimeSight Systems.
About TimeSight Systems
TimeSight Systems Inc. was formed in 2004 to address the requirement for innovative storage management in the video surveillance market. The company is staffed by industry executives with decades of systems, server, storage, software, networking, security, compliance and law enforcement experience to address the growing need for high resolution, IP based video surveillance systems. Applying proven principles and technologies from the demanding IT industry to the digital video surveillance market, TimeSight(TM) Systems has developed a platform to deliver today's required image clarity and retention times to support improved security and compliance at up to 90% less cost than existing technologies and approaches. The company's TimeSight(TM) architecture allows easy migration into the world of higher resolution cameras, video analytics, and IT convergence with minimal budget impact.
NEI, the partner of choice for software developers, OEMs and service providers worldwide, is a leading developer of comprehensive platforms, appliances and support services deployed to reduce time to market, development time and total lifecycle costs. Founded in 1997, NEI is headquartered in Canton, Massachusetts and trades on the NASDAQ exchange under the symbol NENG. For more information about NEI's products and services, visit www.nei.com.
Safe Harbor for Forward-Looking Statements
All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements. Any projected increase in market size that may be referenced in this release is for information purposes only and is not a commitment to ship any volume of units.
For a more detailed discussion of these factors see the Company's most recent Annual Report on Form 10-K for the year ended September 30, 2007 and the most recent Form 10-Q for the quarter ended June 30, 2008 under the section "Risk Factors." The forward-looking statements included in this release are made only as of the date of this release and NEI undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
NEI and the NEI logo are trademarks of Network Engines, Inc. All other trademarks are the property of their respective holders.