SENSIO Signs A Licensing Agreement With Hyundai IT – SENSIO®3D Technology Integrated Into Its 3D Televisions
MONTREAL, Quebec, July 21, 2009 –SENSIO Technologies Inc. (“SENSIO”) (TSX Venture Exchange Inc.: SIO), inventor of the SENSIO® 3D technology, announces that it has signed a licensing agreement with manufacturer Hyundai IT Corporation (“Hyundai IT”) for integration of SENSIO’s technology into Hyundai IT’s LCD HD 3D televisions, developed for the consumer electronics market. Consumers will be able to obtain televisions that integrate SENSIO® 3D decoding technology in the fall of 2009. Hyundai IT plans to market this television model in the American, European and Asian markets.
“We are delighted to work with SENSIO, a real partner that has been working non-stop for ten years toward the evolution of the 3D industry and on the development of the consumer 3D market. By choosing SENSIO, we acquire access to a robust technology, one of the largest libraries of home 3D content in the world, and a team that contributes to the success of the 3D industry, thereby collaborating in the success of our own marketing initiatives”, says Heejung Kim, Chief Technological Officer of Hyundai IT.
“We have received numerous requests from broadcasters, particularly Europeans, who want access to 3D televisions that integrate our technology. Following the initiatives we have undertaken, we are very pleased to announce our collaboration with Hyundai IT, a leader in the industry, and to make available to the marketplace a first 3D television model to integrate our technology. We now have a quality product to offer, one that will be available in the very near future. We are confident that it will accelerate the development of 3D broadcasting projects among the various content distributors, such as television networks and cable TV distributors”, explains SENSIO President and Chief Executive Officer Nicholas Routhier.
The contract provides for quarterly royalty payments for each of the units sold, and the royalty amount is established based on annual sales volume. The financial terms will not be disclosed for competitive reasons.
About Hyundai IT Corp.
Hyundai IT Corp. is a leading manufacturer in the digital display industry. Our incessant business growth in 20 years history is from strong foundation of a robust global sales channel infrastructure of 300 (Korea) local authorized dealers and worldwide sales operation in Europe, USA, and Japan. For more information: www.hyundaiit.com.
Founded in 1999 and headquartered in Montreal, Canada, SENSIO develops and markets forward-looking stereoscopic technologies designed to offer the most advanced and immersive cinematographic experience available. Its flagship technology, SENSIO®3D, allows the high-quality distribution of 3D content through conventional 2D channels and playback on any display device, including plasma TVs, HDTV and glass-free 3D displays. Working with major Hollywood studios and large format 3D film producers, SENSIO has built up one of the world`s largest libraries of 3D movies for the home entertainment market. www.sensio.tv
SENSIO® is a trademark of SENSIO Technologies Inc.
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