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Wednesday June 17, 9:39 am Eastern Time
Company Press Release
SOURCE: fonix corporation
fonix corporation Reaches Agreement to Acquire 3D Planet
Combined with fonix's Complementary Technologies, 3D Planet Expected to Further Improve Ease-of-Use for Computer Users
SALT LAKE CITY and CALABASAS, Calif., June 17 /PRNewswire/ -- fonix corporation (Nasdaq: FONX - news) and 3D Planet, Inc. today announced that they have signed a binding Letter of Intent for fonix to acquire all of the outstanding shares of 3D Planet. Financial terms of the transaction were not disclosed pending completion of the transaction, which is anticipated in July.
Stephen M. Studdert, Chairman and Chief Executive Officer of fonix, said, ''We are extremely pleased to have reached this agreement with 3D Planet. This acquisition will further round out our portfolio in intelligent agent human- computer interface technology, and is a strong complementary 'fit' for the AcuVoice text-to-speech technology we acquired in March, 1998. Combined with core fonix(TM) technologies, we expect to further enhance the acceptance and distribution of 3D Planet products -- products already available today for both users and developers.''
''3D Planet has impressive technology available for today's marketplace -- as well as exciting, next-generation technology for tomorrow's products utilizing virtual assistants or intelligent agents,'' continued Mr. Studdert. ''fonix is uniquely suited to complement and enhance 3D Planet and maximize the combined value of our technologies. In addition, today's announcement will almost certainly accelerate our revenue-generating capability in the near- to medium-term. As such, this agreement represents a unique opportunity for both fonix and 3D Planet to combine forces and will further enhance our competitive advantage in rolling out next-generation, human-computer interface products.''
Mr. Studdert concluded, ''This acquisition is consistent with our ongoing strategy to acquire and enter into joint venture agreements with companies that advance our goal to make computers easier to use, whether via speech-to-text, text-to-speech, handwriting recognition, or related computer interface and object-oriented technologies.''
Kevin Bromber, President of 3D Planet Inc., said, ''With the recent advances in speech technology, it is now possible to envision a truly useful computerized 'assistant' that not only recognizes what the user says, but understands and reacts accordingly. We are consequently very much looking forward to finalizing today's agreement with fonix and incorporating fonix speech recognition technology into future versions of our intelligent agent. Finally, we believe we are at the cusp of a mini-revolution in personal computing using intelligent agents and are very encouraged by the opportunities that we foresee for our intelligent agent technology to be incorporated into new applications.''
Background on 3D Planet's 3D Assistant Intelligent Agent
Using 3D Planet's easy-to-use 3D Assistant intelligent agent technology, SDK developers will be able to quickly add ''virtual'' tour guides, salespeople or customer service characters into their own solutions. The interactive 3D Assistant characters float directly over the user's desktop and communicate with speech and realistic 3D motion captured gestures. Because the 3D Assistant is designed to work on the Web or on the desktop, the 3D Assistant player seamlessly integrates character geometry, textures, motions, speech, phonetically correct facial animation and intelligence. The player has an open plug-in architecture that can all be controlled and updated from small VB or Javascripts streamed off the Web.
3D Assistant characters can be embedded and used in a wide variety of applications. Developers will find them particularly useful as interactive personalities for the Web, ''vertical'' intelligent agents, trainers for computer-based training and customer support. 3D Assistant also allows developers to customize the character's appearance, actions and speech. The developer can even customize the dialog that appears in the optional interactive word balloons.
3D Planet's technology is the most versatile real-time, interactive character solution for the Desktop and Internet. 3D Planet, Inc. is a developer of leading-edge technologies which can be used to easily integrate interactive characters for use in social expression, advertising, e-commerce, training, customer support and other e-business applications. Additional information on 3D Planet is available via the Internet at www.3dplanet.com.
fonix corporation produces proprietary automatic speech recognition (ASR) technologies based on the human auditory model. Together with proprietary neural networks, the fonix(TM) technologies provide enhanced multi-modal human-computer interfaces. As a technology provider, fonix licenses and will integrate its proprietary speech recognition technologies through strategic alliances, joint ventures, acquisitions and co-development efforts, for use in electronic and computer devices for the Internet, commercial, professional and industrial markets.
Note: the statements released by fonix corporation that are not purely historical are forward-looking within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectation, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performance. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements. Forward-looking statements include but are not limited to: the acceptance of the Company's speech recognition and human-computer interface products and technologies in the marketplace, and statements concerning future revenue possibilities. Other risk factors include general economic, competitive, governmental, and technological factors as discussed in the Company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The Company does not undertake any responsibility to update the forward-looking statements contained in this release.
SOURCE: fonix corporation |
