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Veriana's VNIMEDIA Expanding to Muncie

Looking to accelerate growth prospects

Muncie, Indiana (May 27, 2010) Veriana announced today at a news conference held at the Horizon Convention Center in Muncie that the company will be expanding its Indiana operations and creating 45 new jobs and $2.7 annual payroll over the next three years.

Veriana discovers, invests in, and incubates technologically superior media-related businesses with high growth potential. The company was formed in 2007 and has grown to operate offices in Chicago, Illinois, Scottsdale, Arizona and San Diego, California. Veriana's focus is on the development of new media services and products related to digital signage and advertising, software development, entertainment industry risk management solutions and innovative bandwidth compression technologies. Learn more about Veriana at www.veriana.com.

Robert Swagger, CEO of Veriana, stated that the proximity to Ball State University, access to high quality college graduates and local technical and financial support played a significant role in the company’s decision to expand in Muncie. “We are excited to be here in Muncie and look forward to building a long-term relationship with the university and the community,” said Swagger. “The Innovation Connector provides the ideal location and atmosphere from which to build upon our growth initiatives and is in perfect proximity to the university and the City of Muncie. It is very clear to Veriana that Ball State University can be instrumental in our growth initiatives given their expertise in multiple areas including emerging media.” Veriana, Ball State and ECI have been discussing various potential collaboration initiatives since 2008.

Michael Halbrook, President and CEO of the Ball State Innovation Corporation, announced that “Veriana and the Ball State Innovation Corporation are working towards the formation of a joint venture collaboration for the purpose of commercializing media related intellectual property and technologies developed by Ball State University and Veriana’s VNIMedia group. We see great upside potential in a firm such as Veriana and how we can complement each other."

“Veriana will help to provide excellent job opportunities for our residents and university graduates,” said Jay Julian, President and CEO of the Muncie-Delaware County Chamber of Commerce. “Vision 2011 – Economic Development Alliance and local government officials are pleased to have played a role in today’s announcement,” added Julian.

Mayor Sharon McShurley congratulated and welcomed Veriana to the community. “We are always seeking to bring new jobs to the community and these are the types of good paying, high quality jobs every community is trying to attract.”

“Today’s announcement should be the first of a series of good, positive economic development announcements in Muncie-Delaware County,” said Terry Murphy, Vice President Economic Development for the Muncie-Delaware County Economic Development Alliance.


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