Morristown, N.J.—Jun 8, 2006
Access Integrated Technologies Acquires PLX Systems Inc.
Company’s Intellectual Property Management Software Creates New Digital Media Management and Distribution Opportunities for AccessIT
Access Integrated Technologies, Inc. ("AccessIT") (NASDAQ:AIXD) today announced it has acquired privately held PLX Systems Incorporated (“PLX”). Based in Los Angeles, California, PLX Systems, Inc. (www.plxsystems.com) develops and supports enterprise software to manage valuable intellectual property (IP) assets.
The acquisition will expand AccessIT’s suite of industry-leading technology offerings for owners, licensors and distributors of intellectual property and provide significant new digital content distribution opportunities for AccessIT within both digital cinema and new media markets. Both companies develop applications on the Microsoft platform that are designed to streamline distribution and maximize the value of intellectual property. PLX will operate as a unit of AccessIT’s Software Division and several members of the PLX management team, including the company’s president, Gary Bishop, will join AccessIT maintaining their current roles within the PLX organization. Further details were not disclosed.
PLX’s flagship product, RTS (Royalty Transaction Solution) supports IP license contract management, royalty processing, revenue reporting and billing. It can effectively manage all manners of complex contract structures prevalent in the licensing of music, IP and new media. Its customers now include record labels, content publishers, media distributors, merchandise licensors, packaged software providers and pharmaceutical companies.
Jim Miller, President and COO of AccessIT’s Software Division added: "Protecting valuable intellectual property rights is a central issue in the digital revolution. PLX brings to AccessIT essential technology, expertise and core competencies in IP rights and royalty management, expanding our ability to bring new forms of content to movie-goers. The digital distribution and licensing of content, whether to movie theaters screens or downloaded to personal computers, cell phones and other portable devices, has created tremendous opportunities for both consumers and content owners alike. This freedom, however, brings with it fundamental challenges including IP licensing, tracking and proper accounting and payment processing, all issues addressed by PLX’s robust RTS technology."
In addition to playing in important role in enabling the flow of alternative content including live and pre-recorded rock concerts and sports events to digitally-equipped movie theaters, PLX’s IP rights and royalty management solutions are broadly applicable to emerging markets such as Internet retailing where new music sales are rapidly shifting to Internet-based retailers such as iTunes, Napster, Rhapsody and Sony Connect. Other markets include web portals, such as Yahoo, MSN, AOL and Google who are developing business models to license and distribute branded content, or delivering original content through their Internet channel and telecom carriers who are licensing and delivering music and digital media for playback on cell phones and handheld devices.
"Assisting IP rights holders the world over maximize the value of their Intellectual property has always been PLX’s focus,” said Gary Bishop, President of PLX Systems, Inc. “Digital technology, the Internet and the many new outlets and channels it creates for IP, has made navigating the digital world a complex business challenge. AccessIT has embraced the power of digital distribution and is playing a major role in driving the adoption of digital technology by developing comprehensive solutions that address the unique need of studios and content owners as well as exhibitors. We are pleased to be joining the forward-thinking team at AccessIT and to enabling IP holders to better capitalize on the digital revolution."