Here's the news release:
( BW)(NCI/VOICE-IT)(NCII)(MEMO) NCI signs letter of intent with
Voice It
SAN DIEGO--(BUSINESS WIRE)--Dec. 6, 1996--NCI (formerly Norris
Communications Corp.) (NASDAQ:NCII) Friday announced that it has
signed a letter of intent to create a strategic and tactical
alliance with Voice It Worldwide Inc. of Fort Collins, Colo.
(NASDAQ:MEMO).
The two companies intend to enter into a retail sales and
manufacturing agreement under which Voice It will market NCI
products, under the Voice It brand name, into retail channels
worldwide. Also under the intended agreement, products will be
manufactured using Voice It contract manufacturers in the Pacific
Rim.
NCI will focus exclusively on expansion of its OEM business.
Voice It joins Sanyo Information Systems U.K. Ltd. as the second
substantial OEM contract that has been negotiated during the last
two months.
Bob Root, NCI's chief executive officer and president, said:
``The plan we developed for NCI a year ago set two major objectives.
``First was to become an OEM provider of digital recording
components, software and products for the sound, image and data-
acquisition markets. We have made substantial progress towards
that goal with our new OEM relationships. The Voice It agreement
will provide established channels of retail distribution for our
current and future product innovations.
``Our second goal was to significantly reduce manufacturing
costs. Our relationship with Voice It will lower manufacturing
costs substantially, increase margins and create a broad retail
presence.''
Dennis Altbrandt, chief executive officer of Voice It, stated:
``Our company has a dominant share of the personal digital recorder
market. We have over 5,000 retail outlets in the United States and
15 distributors internationally for our products. NCI's dictation
unit and computer interface opens additional markets with computer
retailers, government and corporate customers.''
Altbrandt added: ``We believe that we are one of the lowest-
cost, highest-quality manufacturers in our industry. We can bring
immediate cost reductions to the NCI products, while significantly
increasing volumes.''
Altbrandt continued: ``The distribution and manufacturing
alliance is potentially the first step toward an expanded future
business relationship. We believe that voice technology is an
enabling information source.
``Today, the voice market is in its infancy but has the potential
to grow rapidly. Our alliance can bring critical mass to both
companies and leverage on our individual strengths.''
Root added: ``We both agree that pursuing an expanded
relationship in the future will position us to potentially have a
dominant presence in the digital voice-recording market.
``Our companies are very complementary. There are virtually no
overlaps in the critical areas of sales, marketing, technology and
manufacturing. I look forward to quickly creating and implementing
this new strategic alliance.''
NCI (formerly Norris Communications Corp.) is a Delaware-based
publicly traded corporation on NASDAQ at trading symbol NCII. It
markets branded products worldwide through distributors, resellers,
value-added resellers, government resellers, catalogs and chain
stores.
The OEM division markets the NCI MicroOS imbedded-systems
software operating system, Multichip modules, private-label products
and custom-designed products to computer, dictation systems,
computer peripheral and telecommunications companies worldwide.
The company has patented the Flashback Digital Voice Recorder,
sound-recording techniques and features, which position it as the
world leader in digital flash memory audio recording. The company
operates out of its world headquarters in Poway, Calif. (San Diego),
and through NCI Ltd. in the United Kingdom.
Voice It Worldwide designs, develops and markets personal
consumer-electronics products. Voice It recorders use computer-chip
technology to capture ideas, thoughts and reminders in portable,
handheld products, about the size of a credit card.
The products are available in approximately 5,000 retail
outlets, including department stores, catalog showrooms, office
superstores, mass merchants and electronic specialty stores in the
United States and in 15 countries internationally. Voice It
Worldwide common stock trades on the NASDAQ SmallCap Tier of the
NASDAQ Stock Market under the symbol MEMO.
--30--DON/la* TB/la
CONTACT: NCI, Poway
Bob Root, 619/679-1504
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