INUS Technology Receives Prestigious “Best Venture Company” Award
KTB Ventures, The Ministry of Science & Technology of South Korea and The Korea Economic Daily select INUS Technology as the Number One Technology Venture Company in Korea
Seoul, South Korea (PRWEB) December 19, 2004 -- INUS Technology, the maker of
RapidForm 3D scanning software, has received the 2004 “Technology Venture
Company of the Year” Award from a committee that includes a major investment
firm, a leading business newspaper and a government ministry. The award
recognizes INUS Technology’s exceptional performance in three key categories:
technological innovation, financial success, and compelling future
vision.
The award was presented by KTB Network, the largest private
equity firm in Korea, and the Korea Economic Daily, the country’s leading
business publication, and is sponsored by the Ministry of Science &
Technology. The Vice Minister of Science & Technology, Seok Sik Choi,
remarked at the award ceremony on December 8 that “INUS Tech continues to show
the strength of Korean technology with its growth and success even though the
current economic conditions are difficult.” He continued, “Korea is famous for
semiconductors, mobile phones and electronics worldwide, but 3D scanning
software can now also be considered one of Korea’s global leadership
areas.”
INUS Technology’s technical leadership is evident in the
development of its RapidForm software, a sophisticated 3D scan data processing
application. Developed by INUS Technology since 1998, RapidForm is used by
companies and institutions around the world to create digital copies of physical
objects, as well as verify that manufactured parts match the 3D designs they are
based on. RapidForm is the only software of its kind to be certified with Class
1 accuracy from Germany’s renowned PTB metrology institute. The popularity of
RapidForm makes INUS Technology Korea’s number two CAD vendor, second only to
Samsung Electronics in worldwide CAD application sales.
The award judges
were impressed with the company’s financial performance and its bold plans for
the future. From its first commercial product release in 2000, INUS has been a
profitable company, with 50-100% annual revenue growth since 1998. The judges
recognize that the company is expected to achieve more than $10M (USD) in sales
of RapidForm software in 2005.
Seockhoon Bae, CEO of INUS Technology,
said “As we look toward the future, we have an aggressive growth strategy backed
by solid performance. We’re pleased that the Ministry of Science &
Technology, KTB Ventures, and the Korea Economic Daily recognize our strength
and saw fit to name INUS Technology Korea’s technology venture company of the
year.”
About INUS Technology, Inc.
INUS Technology develops some of
the world’s most advanced 3D scan data processing software. The company’s
software solutions are the most popular products for reverse engineering and
inspection of 3D scan data worldwide. RapidForm makes 3D scanning an extremely
powerful tool for a variety of applications and is used in manufacturing,
R&D, quality inspection, medical research, civil engineering and more. More
than 2,000 organizations including Toyota, Samsung, Ford, Alcoa, Matsushita,
Johnson & Johnson, Sandia National Labs, and Stanford Medical School, and
Bridgestone use RapidForm’s advanced technology to innovate throughout their
research, design, manufacturing and quality control processes. For more
information, and to download free trial versions of any of our products, visit
www.rapidform.com
Contact information:
Global
Contact:
Kate Lee
INUS Technology
601-20 Yeoksamdong Gangnamgu
Seoul
135-080, Korea
Tel: +82.2.6262.9922
e-mail protected from spam
bots
North American Contact:
Tom Charron
INUS Technology
3003
North 1st Street
San Jose, CA 95134
+1.408.232.5443
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Source : http://www.prweb.com/releases/2004/12/prweb190145.htm