Acorn Group PLC - Subsidiary's Change of Name
January 14 1999 - 2:45AM
UK Regulatory
RNS No 1268q
ACORN GROUP PLC
14th January 1999
ACORN LAUNCHES ELEMENT 14
14 January 1999, Cambridge UK -- Acorn Group plc (ACN) today
announced that its 100%-held operating company Acorn Computers
Limited is adopting a new name, Element 14 Ltd (www.e-14.com).
Element 14 is targeted on the creation of next generation silicon
and software Intellectual Property (IP) for multimedia devices,
initially focused in the digital TV market. In addition, the
company is aggressively growing its sales of the Active range of
highly interactive digital TV set top boxes - specifically to
telecom network owners.
The new name was selected because it represents the core values of
the company. Silicon is the 14th element on the periodic table.
Elements are the basic building blocks of matter, and Silicon is
the building block of digital technology.
Element 14's rebranding is a culmination of six months of rapid
transformation, involving a major restructuring and the
development of a very strong focus. Recent milestones include the
recruitment of a leading silicon design team (previously at ST
Microelectronics) and a design win for 10,000 Active set top boxes
to ImagicTV (an affiliate of NBTel and Newbridge Networks), for
the first commercial roll-out of a broadcast TV solution over
existing copper telephone wires. During this period, Acorn has
also undertaken a controlled de-emphasis on desktop products,
highlighted by the recent sale of Acorn's 50% shareholding in
Xemplar - an education joint venture with Apple.
The Element 14 brand will encompass the following product areas -
the Active range of highly interactive digital video receivers;
the development of silicon and software IP for the DiTV market; as
well as continuing support for multimedia terminals and desktop
workstations. Only the desktop workstations will continue to carry
the Acorn brand, and will be manufactured in line with market
demands.
Stan Boland, CEO, commented "We anticipate the Element 14 name
will help to establish our IP as the technology of choice in the
digital TV technology arena, and that it will strongly support our
progress into the markets of the next millennium. Although well
known in the UK, the brand values associated with Acorn are no
longer an accurate reflection of the work that we are undertaking
or the markets that we have been moving into. Everyone in the
company is excited at the prospect of playing a part in the
creation of a powerful high-tech company."
About Element 14
Element 14 is a brand new company, drawing on the engineering
excellence of Acorn. Element 14 offers complete product, silicon,
operating systems and software component design. Element 14's
solutions provide high levels of functionality, the flexibility
that only software can provide, and a reduced component count for
the next generation of Digital TV and multimedia devices.
Headquartered in Cambridge, UK, Element 14 also has silicon
intellectual property development facilities in Bristol, UK, and
offices in Silicon Valley's Palo Alto, CA in the USA.
For further information
please contact:
Rollo Head Stan Boland, CEO
Shandwick Financial Element 14 Ltd, Cambridge
Tel: 0171 329 0096 UK
email: rhead@shandwick.com Tel: +44 (0)1223 725000
Sian Wagstaff Andy Mee Snr VP,
Miller/Shandwick Technologies Sales & Marketing
0171 240 8666 Element 14 Ltd, Cambridge
email: swagstaff@miller.shandwick.com UK
Tel: +44 (0)1223 725000 email: amee@e-14.com
END
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