FCSE In The News - 10/17/96
FOCUS ENHANCEMENTS, INC. ANNOUNCES $12 MILLION
AGREEMENT WITH ZENITH FOR 1997
Option to extend exclusivity through end of 1998 with potential
purchases up to $30 million
SUDBURY, Mass., Oct. 17 /PRNewswire/ -- FOCUS Enhancements, Inc.
(Nasdaq: FCSE; FCSEW) (BSE: FCS, FCSW) announced today that it has
signed an exclusive 15-month, $12 million minimum agreement with ZenithElectronics Corporation (NYSE: ZE) for the television manufacturer to integrate, market, and sell FOCUS' PC-to-TV technology under the Zenith brand name into the national consumer and commercial television markets. Zenith has a non-binding option to extend its exclusive agreement through the end of 1998 with potential purchases up to $30 million.
Earlier this year, FOCUS Enhancements and Zenith signed an agreement
allowing Zenith to integrate FOCUS' PC-to-TV technology, which converts a PC's video output to television video input, into Zenith's
"Presentation Series" color television sets under the trademark PCZTV.
In addition, Zenith is marketing and selling FOCUS PC-to-TV technology
as an external peripheral device called PCZ150 through major consumer
electronics retail outlets.
"Zenith is one of the world's largest television manufacturers, and we
are pleased to become such a strategic partner," said Thomas Massie,
Chairman and Chief Executive Officer at FOCUS. "Our continued
involvement with Zenith is indicative of our commitment to partnerships with industry leaders to bring PC to TV convergence to fruition in the mass market."
"We have seen tremendous interest in this technology for the commercial market where we have integrated FOCUS' technology into TV sets for educational and business applications," said Brett Moyer, Zenith's General Manager, Commercial Products. "This agreement expands our relationship to deliver computer-ready products to the broader marketplace, helping to drive the convergence of personal computers and televisions. Together with FOCUS, we at Zenith plan to be at the forefront of this technological transition."
FOCUS' PC-to-TV technology makes it possible to transmit low-cost, high- quality images from any PC-, Windows-, or Macintosh-based system onto a television of any size for sharp, flicker-free multimedia/business presentations, classroom/training sessions, game-playing, or even collective viewing of spreadsheets or Internet browsing.
FOCUS Enhancements, Inc. is an industry leader in the development and
marketing of proprietary multimedia video graphics and networking
products for the rapidly converging, multi-billion dollar computer and
television industries. The Company's products, which are sold through
Original Equipment Manufacturers (OEMs) and resellers, merge PCs and TVs for a wide range of uses.
Forward looking statements in this release are made pursuant to the
"safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors art cautioned that such forward looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence upon third-party suppliers, intellectual property rights and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
SOURCE FOCUS Enhancements, Inc.
-0- 10/17/96 /CONTACT: Carlton van Putten, Vice
President of Marketing, or Jay Cole, Vice President of Finance &
Administration of FOCUS Enhancements, Inc., 508-371-2000, or John I.
Taylor, Vice President, Public Relations and Communication of Zenith
Electronics Corporation, 847-391-8181/
(FCSE ZE)
CO: FOCUS Enhancements, Inc.; Zenith Electronics Corportion ST:
Massachusetts IN: CPR SU:
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