SENSIO Technologies Inc. (“SENSIO”) (TSX Venture Exchange Inc.: SIO), inventor of the SENSIO®3D technology, announced today the signing of a Licensing Agreement with International Datacasting Corporation (“IDC”) (TSX: IDC) for the integration of the SENSIO®3D cinema decoding technology into products for the digital cinema market. This agreement comes with the first sale of licenses for an initial deployment of 3D systems for 50 movie theatres to enable the broadcasting of live stereoscopic (3D) events.
“We are extremely pleased of this agreement with IDC and this initial order. It is a major milestone in our Live 3D development efforts and it secures our position as the industry leader in 3D content distribution,” explains Nicholas Routhier, President and CEO of SENSIO. “IDC is a recognized world leader in the broadband delivery networks needed for this application and they have the manufacturing and international distribution we need to be successful. SENSIO has now reached a key phase in its development strategy, which not only allows us to generate more licensing revenues from our technology, but also improves our content offer for the consumer market.”
“We are also delighted with this agreement” added Ron Clifton, President and CEO of IDC. “It builds on the excellent working relationship we have developed with SENSIO over the past year of working together strategically and significantly expands our product portfolio and addressable market potential. The SENSIO®3D technology is becoming the de facto standard in the digital cinema industry for the distribution and display of alternative content which is quickly becoming recognized as a new revenue source and business opportunity in the industry.”
SENSIO and IDC have previously announced the launch of CineLive, an exclusive product developed specifically for market leader Access Integrated Technologies, Inc. (AccessIT - NASDAQ: AIXD) in the United States. CineLive uses the SENSIO®3D cinema decoding technology integrated with IDC’s SuperFlex DVB-S2 broadband satellite technology to enable the live broadcast of alternative 2D and 3D content, such as concerts and sporting events in addition to the service that AccessIT provides of delivering industry standard digital movie files to theatres. In a press release published on June 2, 2008, AccessIT announced the initial deployment of the CineLive solution to 50 theatres across the United States with plans to continue deploying in a total of 150 theaters by the end of 2008. “With this first implementation, we have secured our lead over the competition and increased our visibility, as we have agreement that the SENSIO brand will be shown during every presentation,” added Mr. Routhier.
The Agreement provides exclusive rights to IDC for the worldwide digital cinema market, subject to meeting certain conditions agreed to between the two companies. Namely, SENSIO will get a fixed royalty per theater, as an intellectual property license, for the integration of its SENSIO®3D cinema decoding technology. The Agreement also allows IDC to use the SENSIO®3D technology in its own products and to sublicense the technology to qualified third party manufacturers. The SENSIO®3D technology has already been launched internationally by IDC as part of their SuperFlex Pro Cinema product line and is currently undergoing trials in Europe and Asia.