ObjectSoft's FastTake Kiosk Lands Deal with Country's Third Largest Video Retailer
Video Kiosk Coming to Movie Gallery Locations Across the Country;
Beginning With Six New Markets
HACKENSACK, N.J., April 1 /PRNewswire/ -- ObjectSoft Corporation (Nasdaq: OSFT) today announced that it has signed a Pilot Production Agreement with Movie Gallery (Nasdaq: MOVI), the Nation's third largest video retailer, for deployment of the FastTake(TM) video kiosk to retail locations throughout the United States.
According to the agreement, ObjectSoft will initially deliver a total of six FastTake video kiosks to different Movie Gallery's markets around the country. The companies will agree on additional locations based on an initial 3 - 4 month test phase in those markets.
"We are delighted that such a prominent player in the video retail market is installing our fun-to-use FastTake kiosks in their locations," said George Febish, president and Co-CEO of ObjectSoft. "This is a huge vote of confidence in its ability to increase video sales and rentals."
"They are truly welcome additions to our stores. FastTake is an exciting new technology that will bring video stores into the 21st Century," said William Guerrette, Senior Vice President, Sales and Marketing of Movie Gallery. "FastTake offers excellent in-store video search capabilities and should increase our customer's interest and the store's revenues."
In other news, the Company noted that IBM Corporation successfully delivered and installed the kiosks it had previously contracted for in markets including Pennsylvania, Connecticut and New York during the second week of March. Initial reactions have been very positive and have resulted in additional inquiries by other video retailers.
"We are very pleased with the usage rate of FastTake," said Darlene Burlingame, owner of Entertainment Zone. "Since it was installed in our location, people haven't been able to get enough of it."
About ObjectSoft
Founded in 1990, ObjectSoft Corporation delivers value-added information and service solutions through interactive kiosks with custom enclosures under the brand names FastTake(TM) and SmartSign(TM). Installation and Field Service are provided by IBM Corporation (NYSE: IBM).
FastTake(TM) Video kiosks allows consumers to preview 500 movie trailers, search up to 7,500 titles and the ability to receive drop shipment to their home or workplace through e-commerce and online transaction capabilities. Software provides retailers with monthly updates to the database, advertising opportunities, point-of-purchase promotions, demographic targeting and studio/retailer cross promotion.
ObjectSoft is a publicly held company listed on Nasdaq. For more information on ObjectSoft, visit their website at objectsoft.net.
About Movie Gallery
Movie Gallery currently owns and operates 828 video specialty stores in 22 states and has 105 licensees. The Company is among the three largest video specialty retailers in the United States. It recently agreed to acquire about another 90 stores from BlowOut Entertainment, Inc.
This press release contains certain forward-looking statements concerning ObjectSoft which are subject to a number of known and unknown risks that could cause actual results, performance and achievements to differ materially from those described or implied in the forward-looking statements. Among such risks are those discussed in the Company's Registration Statements on Form SB-2 and Form S-3 and its Quarterly Reports on Form 10-QSB and include, but are not limited to, limited operating history, recent establishment of new business divisions, dependence on new and untested product, risks related to technological factors and potential manufacturing difficulties.
SOURCE ObjectSoft Corporation
CO: ObjectSoft Corporation; Movie Gallery; IBM Corporation; BlowOut Entertainment, Inc.
ST: New Jersey
IN: CPR ENT
SU:
04/01/99 07:30 EST prnewswire.com
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