MIRA INFORM REPORT
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Report No. : |
309221 |
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Report Date : |
21.02.2015 |
IDENTIFICATION DETAILS
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Name : |
VERIMATRIX, INC. |
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Registered Office : |
6059 Cornerstone Court West, San Diego, CA 92121 |
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Country : |
United State |
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Date of Incorporation : |
1999 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject develops 3-dimensional content security solutions for pay-TV service providers worldwide. It offers Video Content Authority System (VCAS), a software-based content security solution for cable, satellite, terrestrial, and IPTV operators; and VideoMark, a forensic video watermarking solution. |
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No. of Employee : |
62 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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United State |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UNITED STATE ECONOMIC
OVERVIEW
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $49,800. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. Since 1996, dividends and capital gains have grown faster than wages or any other category of after-tax income. Imported oil accounts for nearly 55% of US consumption. Crude oil prices doubled between 2001 and 2006, the year home prices peaked; higher gasoline prices ate into consumers' budgets and many individuals fell behind in their mortgage payments. Oil prices climbed another 50% between 2006 and 2008, and bank foreclosures more than doubled in the same period. Besides dampening the housing market, soaring oil prices caused a drop in the value of the dollar and a deterioration in the US merchandise trade deficit, which peaked at $840 billion in 2008. The sub-prime mortgage crisis, falling home prices, investment bank failures, tight credit, and the global economic downturn pushed the United States into a recession by mid-2008. GDP contracted until the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize financial markets, in October 2008 the US Congress established a $700 billion Troubled Asset Relief Program (TARP). The government used some of these funds to purchase equity in US banks and industrial corporations, much of which had been returned to the government by early 2011. In January 2009 the US Congress passed and President Barack OBAMA signed a bill providing an additional $787 billion fiscal stimulus to be used over 10 years - two-thirds on additional spending and one-third on tax cuts - to create jobs and to help the economy recover. In 2010 and 2011, the federal budget deficit reached nearly 9% of GDP. In 2012 the federal government reduced the growth of spending and the deficit shrank to 7.6% of GDP. Wars in Iraq and Afghanistan required major shifts in national resources from civilian to military purposes and contributed to the growth of the budget deficit and public debt. Through 2011, the direct costs of the wars totaled nearly $900 billion, according to US government figures. US revenues from taxes and other sources are lower, as a percentage of GDP, than those of most other countries. In March 2010, President OBAMA signed into law the Patient Protection and Affordable Care Act, a health insurance reform that was designed to extend coverage to an additional 32 million American citizens by 2016, through private health insurance for the general population and Medicaid for the impoverished. Total spending on health care - public plus private - rose from 9.0% of GDP in 1980 to 17.9% in 2010. In July 2010, the president signed the DODD-FRANK Wall Street Reform and Consumer Protection Act, a law designed to promote financial stability by protecting consumers from financial abuses, ending taxpayer bailouts of financial firms, dealing with troubled banks that are "too big to fail," and improving accountability and transparency in the financial system - in particular, by requiring certain financial derivatives to be traded in markets that are subject to government regulation and oversight. In December 2012, the Federal Reserve Board (Fed) announced plans to purchase $85 billion per month of mortgage-backed and Treasury securities in an effort to hold down long-term interest rates, and to keep short term rates near zero until unemployment drops below 6.5% or inflation rises above 2.5%. In late 2013, the Fed announced that it would begin scaling back long-term bond purchases to $75 billion per month in January 2014 and reduce them further as conditions warranted; the Fed, however, would keep short-term rates near zero so long as unemployment and inflation had not crossed the previously stated thresholds. Long-term problems include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly rising medical and pension costs of an aging population, energy shortages, and sizable current account and budget deficits.
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Source
: CIA |
Company
name and address
VERIMATRIX, INC.
Address: 6059 Cornerstone Court West, San
Diego, CA 92121 - USA
Telephone: +1
858-677-7800
Fax: +1 858-677-7804
Website: www.verimatrix.com
Corporate ID#: C2267751
State: California
Judicial form: Corporation – Profit
Date incorporated: November
2, 2000
Date founded: 1999
Stock: -
Value: -
Name of manager: Thomas
A. MUNRO
ACTIVITIES & OPERATIONS
History:
07-16-2014
Business relocated from 6825 Flanders
Drive, San Diego, CA 92121
Business:
Verimatrix, Inc. develops 3-dimensional content security solutions for
pay-TV service providers worldwide.
It offers Video Content Authority System (VCAS), a software-based
content security solution for cable, satellite, terrestrial, and IPTV
operators; and VideoMark, a forensic video watermarking solution.
The company also provides VCAS for IPTV, which eliminates the
vulnerabilities related to smart card based architectures; VCAS for Internet
TV, which offers a system for authenticated and protected video service
delivery to set-top boxes, connected TVs, PCs/Macs, and various mobile devices
over un-managed networks; VCAS for Cable IPTV, a solution that integrates third-party
CMTS bypass technology with VCAS to enable the conversion of an existing cable
system to an asymmetric IP network for IPTV; and VCAS for DVB, which supports
the use of a unified protection system for content delivered through DVB and IP
segments of a hybrid pay-TV network.
In addition, it offers ViewRight STB for IPTV and DVB, a package of
portable embedded code that implements the VCAS security functions within STBs
in IPTV and DVB pay-TV systems; ViewRight Desktop for PC Player, which decrypts
broadcast and VOD content within VCAS protected IPTV systems; ViewRight Web, a
package of portable code that implements the VCAS for Internet TV device
authentication functions; ViewRight Professional, a package of portable
embedded code that implements the VCAS security functions within Professional
Receiver equipment in pay-TV systems; Verimatrix Remote Stream Manager, which
optimizes the configuration of IPTV wholesaler/retailer configurations;
Verimatrix Service Information Server, an optional component of VCAS for DVB;
and MultiCAS/IP, MultiCAS/DVB, and real time encryption server components.
The company was founded in 1999 and is headquartered in San Diego,
California with local sales and customer care support offices in the Americas,
Europe, and Asia; and a development center in Paris, France.
Office of the Foreign
Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC which
lists individuals and organizations with whom United States citizens and
permanent residents are prohibited from doing business.
EIN: 33-0935891
Staff: 62
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
SHAREHOLDERS
& MANAGERS
Shareholders:
Investors include:
- The Goldman Sachs Group
Inc.
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- Mission Ventures Management LLC
and others.
Management:
Thomas A. MUNRO is CEO
He served as the Chief Financial Officer of
Donnelley Enterprise Solutions Inc. since January 1998 and served as its Vice
President, Corporate Controller and Assistant Secretary since March 1997. He
served as President of Kratos Defense & Security Solutions, Inc. (alternate
name Wireless Facilities, Inc). He also served as Chief Financial Officer of
WFI from 1997 to 2000, and as President from September of 2000 until his
retirement in February, 2003.
Prior to joining WFI, Mr. Munro was founder
and served as Chief Executive Officer of @Market, a retail sporting goods
website. From 1994 to 1995, he served as Chief Financial Officer for Precision
Digital Images, Inc.
As a key Member of Precision Digital
Images's Management Team, he was responsible for raising seed capital for
Digital Images, as well as implementing financial and operational controls.
From 1981 to 1994, he was employed with MetLife Capital Corporation, where he
served as Chief Financial Officer. Mr. Munro has over 22 years of experience in
both finance and technology. He has been Director of Pac-west Telecomm, Inc.
since April 24, 2003. He serves as a Director of Airgain Inc. and CommNexus San
Diego (formerly San Diego Telecom Council). He serves as Director of Kineticom
Inc. He served as a Director of Concerto Networks Inc.
Mr. Munro served as a Director of Precision
Digital Images.
He served as a Director of MetLife Capital
Corporation from 1992 to 1994.
He has co-authored two college level text
books on computer programming.
Mr. Munro holds a bachelor's degree in
business administration and an MBA from the University of Washington.
Charles PADGETT has been the CFO since
February 2015.
Mr. Padgett has extensive financial and
operational leadership experience in the telecommunications, wireless, and
software sectors. He was Founder and Chief Executive Officer of Cascadia Technology
Group. He served as the Senior Vice President of Acquisitions & Integration
of Kofax plc (alternate name, Kofax Limited) from 2008 to January 2012. He was
responsible for developing and executing the Kofax's inorganic growth
strategies including the integration of acquired companies and the divesture of
the legacy hardware business in 2011. Mr. Padgett was responsible for Kofax's
acquisition activity, including integration of acquired businesses into the
Kofax organisation. Mr. Padgett has held a number of executive and management
positions with publicly held and early stage private companies, including EMC,
Captiva, Wireless Facilities, British Petroleum and KPMG.
He served as Chief Financial Officer of
Aviarc, WFI (EMEA).
He was Entrepreneur in Residence at Boeing
Technology Ventures and Managing Director of The Walter Group.
He spent fours year in public accounting as
a CPA for KPMG.
Mr. Padgett holds a Bachelors Degree in
Finance and History from the University of Oregon and in Accounting from the
University of Alaska, Anchorage.
Steven OETEGENN has been the President of
Verimatrix, Inc. since April 2014. Mr. Oetegenn leads the panel to discuss
different IPTV wholesale/retail models that support an enhanced subscriber
experience with rich content offerings in a seamless lineup, while enhancing
overall distribution integrity and operational costs with a unified content
security model.
He served as the Chief Sales and Marketing
Officer at Verimatrix, Inc.
Mr. Oetegenn served as an Executive Vice
President of Global Sales and Marketing and Senior Vice-President of Global
Sales and Marketing at Verimatrix, Inc. His career in the Information
Technology industry spans 25 years. He has a wide range of experience in
international business, having launched numerous high tech products to the
global marketplace.
He began his career with Burroughs
Corporation (now UNISYS) as a specialist for Optical Character Recognition
Systems. He has specialized in Digital Security and Anti-Piracy Since 1998,
working with Government agencies, Fortune 500 companies and Major Hollywood
studios.
Prior to joining Verimatrix, he served as
the Chief Operating Officer of MediaSec Technologies LLC, Chief Operating
Officer and Executive Vice President of Argus Systems Group (Europe) AG and
Argus Systems Group and Chief Executive Officer of DCE Communication Ltd. Mr.
Oetegenn has spoken at numerous global digital security conferences.
Subsidiaries
And partnership: None
Verimatrix GmbH
Fraunhoferstr. 7
85737 Ismaning, Germany
Tel: +49-89-55265-100
Fax: +49-89-55265-101
Verimatrix Singapore
101 Thomson Road
#22-01A United Square, Singapore 307591
Tel: +65-6353-9430
Fax: +65-6252-5185
Verimatrix - China
A2705, Fudun Center
No.58, East 3rd Ring South Road, Chaoyang District, Beijing 100022, China
Tel: +86 10 5867 3818
Fax: +86 10 5867 3818
Verimatrix - India
Level 15, Concorde Towers
UB City, 1 Vittal Mallya Road, Bangalore – 560001, India
Tel: +91 80 6759 0404
Fax: +91 80 6759 0400
FINANCIALS
In United States, privately held corporations are not required to
publish any financials.
On a direct call, a financial assistant controlled the present report.
Sales declared for year 2014 is in the range of USD 8,000,000=
(USD 6,500,000= in 2012)
The business is said to be profitable.
Banks: Bridge Bank
55 Almaden
Blvd, San Jose, CA 95113
Ph:
+1 408-423-8512
LEGAL
FILINGS
Legal
filings & complaints:
As of today date, there is no legal filing
pending with the Courts.
Secured
debts summary (UCC):
File number: 13-7387526193
Date filed: 11-18-2013
Lapse date: 11-18-2018
Secured Party: Var Resources Inc.
800 Walnut Street, Des Moines, IA 50309
File number: 13-7361722638
Date filed: 05-09-2013
Lapse date: 05-09-2018
Secured Party: Everbank Commercial Finance,
Inc.
10 Waterview Blvd, Parsippany, NJ 07054
File number: 12-7305453171
Date filed: 03-07-2012
Lapse date: 03-07-2017
Secured Party: Western Equipment Finance
PO Box 640, Devils Lake, ND 58301
File number: 12-7296991935
Date filed: 01-11-2012
Lapse date: 01-11-2017
Secured Party: BMO Harris Bank
50 S. 6th Street,
Minneapolis, MN 55402
File number: 08-7164259507
Date filed: 07-07-2008
Lapse date: 07-07-2018
Secured Party: Costella Kirsch V, LP
3500 Alameda de la Pulgas, Ste 120,
Menlo Park, CA 94025
File number: 07-7402400011
Date filed: 02-12-2007
Lapse date: 02-12-2017
Secured Party: Bridge Bank
55 Almaden Blvd, San Jose, CA 95113
File number: 06-7085757378
Date filed: 09-21-2006
Lapse date: 09-21-2016
Secured Party: 12234 N.IH 35, Bldg B,
Austin, TX 78753