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Bitstream, Inc., (BITS) announced today that Cox Communications, the nation’s third largest cable operator, has licensed Bitstream’s FontFusion technology, Bitstream typefaces and the Tiresias screenfont for use in its interactive program guide. This is the first agreement between the two companies.
Bitstream's Font Fusion is a font subsystem that allows developers to render high-quality characters in any format, at any resolution, on any device. It is designed to support all displays, including high-definition television screens (HDTVs), but also has a wide range of uses, including cell phones and handsets, operating systems, software applications, Web applications, low-resolution screen devices, multimedia servers, high-definition television screens (HDTVs), set-top boxes, continuous tone printers, and other embedded systems and Internet appliances.
The Tiresias screenfont was developed specifically for closed captioning by the Royal National Institute for the Blind (RNIB). It was designed to improve the legibility of text used for television subtitling. In designing the font, key factors that affect legibility were studied, including character shapes, relative thickness of the character shapes, inter-character spacing, and aspect ratios that affect the maximum size at which the font can be used.
Anna Chagnon, President and CEO of Bitstream, Inc. commented on the agreement, saying “We developed Font Fusion to render high-quality characters in any format, at any resolution, on any device. Combine the text rendering technology of Font Fusion with the exceptional readability of the Tiresias screenfont and the result produces the best text display for the interactive programming guides used by Cox Communications. Bitstream is delighted to be working with this industry leader.”
In the last trading session, the stock closed at $6.50. The company traded as high as $6.93 on above the average trading volume.
Cowen Group, Inc. (COWND) announced last Thursday the expansion of its investment banking franchise with the launch of a Financial Institutions Group ("FIG").
The team will be led by Simon K. Adamiyatt and David W. Levy as Vice Chairmen-Investment Banking and Co-Heads of FIG. Joining the group, as Managing Directors are Matthew Epstein and Francis Greco. The group has worked together over many years and will be based in New York reporting to Scott Ryles and Don Meltzer, Co-Heads of the firm's Investment Banking division.
Mr. Adamiyatt and Mr. Levy bring more than 45 years of experience providing strategic and financial advice to domestic and international financial institutions and government enterprises. During their careers they have executed capital raisings, business combinations, principal investments and restructurings in excess of $400 billion in value. They will lead a team with extensive advisory and capital markets transactional experience across the financial services industry. Both Mr. Adamiyatt and Mr. Levy have strong track records of building client centric and broad based financial services businesses.
"We have been looking to expand our footprint into the FIG sector for some time and are fortunate to have added these four senior FIG professionals to our Investment Banking team," said Greg Malcolm, Cowen's CEO. "These hires underline our strategy of expanding into and across new verticals during this period of continued evolution of the financial markets, and are consistent with the growth drivers and goals we have identified in connection with our pending combination with Ramius."
In the last trading session, the stock closed at $7.30. The company traded as high as $9.00 on above the average trading volume.
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