QUESTEC TO
RECEIVE LICENSING FEES AND
ROYALTIES AS PART OF SEVEN-YEAR
ALLIANCE WITH GERMANY-BASED
BROADCAST COMPANY
Deer Park, N.Y.
Wednesday, June 10, 1998 -
QuesTec Imaging, Inc. (QuesTec),
(NASD-BB: QSTI), will be paid
licensing fees and royalties for
the distribution of their
products as a result of a new
seven-year strategic alliance
with Live Motion Company (LMC) of
Wiesbaden, Germany. The
profitable alliance involves the
research, development and
distribution of future
sports-imaging, television
broadcast enhancement
technologies, as well as the
further distribution of QuesTec's
existing sports-imaging products.
QuesTec's products can be put to
use for a number of sports,
including golf, tennis, soccer,
skiing, boxing, and auto-racing.
Felix Marggraff,
Principle of LMC, a broadcast
production company which works
with some of the largest
television broadcast networks
throughout Europe, Dubai, and the
United Arab Emirates, had this
comment: "Live Motion has
been in the broadcast business
for more than seven years.
Covering all kinds of sports. Of
course you always want to raise
the bar in how you cover these
events. We think QuesTec's
products definitely do that now,
and we can't wait to bring some
of that technology into some of
the sports we cover. With our
broadcast expertise and their
technological know-how, we will
definitely be able to raise that
level of coverage."
Ed Plumacher,
Co-Founder of QuesTec, is equally
enthused: "LMC brings vast
production experience and
expertise to the table — in
sports we never dreamed of
working with. We believe that
this relationship will ultimately
benefit those covering and those
watching the sports they
love."
Under the agreement,
each sport will be handled
indivdually with separate
contracts. However, QuesTec and
LMC currently have an agreement
in principle for two sports that
will be announced in the coming
days.
While LMC receives
exclusive distribution rights for
Europe, Dubai, and the United
Arab Emirates, QuesTec retains
the ownership of its existing
products and any products
developed jointly with LMC, as
well as the exclusive
distribution rights throughout
North America, the Caribbean and
Bermuda. LMC will also provide
partial-funding for the research
and development of sports-imaging
technologies that can be used
during national sports-event
coverage. In addition, LMC's
broadcast expertise will enhance
the integration of such
technology into actual
TV-broadcasts.
###
For more information
on QuesTec Imaging, Inc. contact
Mike Russo at (631) 243-1880 or
visit www.questec.com.
###
This news release was prepared by
management and they accept
responsibility for its contents
and forward looking statements.
Michael Russo - President
Add my email
address to the press release
distribution list
Previous
release | News archive | Next release
|
