QuesTec
signs Strategic Alliance
Agreement and Exclusive Sports
Development Partnership with
Atlantic Aerospace Electronics
Corporation
Deer Park, N.Y.
Tuesday, December 8, 1998 -
QuesTec Imaging, Inc. (QuesTec),
(NASD-BB: QSTI) has formed a
seven-year Strategic Alliance and
Exclusive Sports Development
Partnership with Atlantic Aerospace
Electronics Corporation (AAEC) of Waltham,
Massachusetts. Under this
agreement AAEC will provide
QuesTec with all research and
development of
live-motion-capture tracking
technology for future sports
related applications in exchange
for a percentage of gross sales
and an equity interest in the
company. AAEC, with $20 million
in annual revenue and
approximately 100 employees in
two offices, specializes in
government defense research and
product development. AAEC brings
a wealth of experience in signal
processing, image recognition,
communications and hardware
development to QuesTec’s
future endeavors. To be sure,
this new relationship clearly
positions QuesTec as the
worldwide leader for providing
performance analysis data and
computerized visual display
systems for the world of sports.
AAEC is currently
finalizing development of
QuesTec’s new tennis system
and has already completed
extensive work upgrading
QuesTec’s statistical and
action-tracking applications for
baseball, which power the
company’s popular
SuperVision virtual replay
system. In addition, QuesTec and
AAEC have created a new program
called OnTrax which combines the
two companies technologies and
areas of expertise to create
real-time tracking and display
systems that can be used for
athletic training and evaluation,
sports analysis or for media
purposes. Speaking about the new
relationship, AAEC’s General
Manager for Boston Operations,
Thomas V. Robertson, Ph.D. says,
" We are very excited and
comfortable with our QuesTec
partnership. The synergy between
our companies has made the
integration of the two companies
surprisingly quick and easy.
" Indeed, as part of that
integration process QuesTec
management has also nominated
AAEC’s director of software
development to its board of
directors.
From QuesTec’s
perspective, which retains the
exclusive right to market and
distribute on a worldwide basis
any sports related products,
company president Michael W.
Russo explains that " The
response to the AAEC relationship
has been overwhelming. Requests
for product evaluation and
production service quotations
have increased ten-fold over the
past several months. We are
currently reorganizing our
corporate structure so that we
can handle this increased
demand." QuesTec is
currently in discussions with an
Australian company which has an
interest in marketing and
distributing the company’s
products and services there.
Extensive discussions for new
product development in the United
States and throughout Europe have
already taken place. QuesTec and
AAEC have been working closely
with QuesTec’s European
distribution partner Live Motion Company (LMC), of
Wiesbaden, Germany. In addition,
QuesTec is in the process of
finalizing an extensive plan
which will market its services to
professional sports leagues and
teams, television networks,
statistical services and internet
service providers. As Russo says,
"What has traditionally been
our slow time of the year has
quickly become intense. The next
few months will be very exciting
for QuesTec!"
QuesTec develops and
markets proprietary software
systems that capture, render and
display real-time graphic
simulation and analysis systems
that can be applied to sports,
entertainment, display media,
business and industry.
###
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
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