Fonix Corporation Licenses Text-To-Speech Technology to KunnSoft; Fonix's AV2001 to Be Used in KunnSoft's Netori Educational Software
SALT LAKE CITY, Sept. 16 /PRNewswire/ -- Fonix® Corporation (Nasdaq: FONX - news) today announced the signing of a long-term licensing agreement with KunnSoft Co., Ltd., a Korean-based company specializing in communication software. Initially, KunnSoft will implement Fonix's AV2001 Text-To-Speech in the Netori Education 2000 program, an interactive software product used to teach native Korean and Japanese speakers basic English and specialized English vocabulary.
''Besides the Internet, it is known that English is one of most important tools for global business. Many people are seeking for a quality and time- effective way to learn the English language. To provide such a solution, KunnSoft has developed the Netori Education 2000 which will target the Asian market. With the leading-edge technology of Fonix, Netori Education 2000 will be one of the first education software applications to implement text-to- speech functions which provide perfect pronunciation and speech solutions to the non-English speaking user,'' said Kunn-Choi, managing director for KunnSoft.
Fonix Corporation seeks markets for it's core speech recognition, text-to- speech and handwriting recognition technologies that deliver high margins, broad use, rapid development and market emergence/presence. The agreement with KunnSoft exemplifies this strategy. Fonix technology will be integrated with a vendor's software with minimal additional development time enabling KunnSoft to almost immediately begin producing product revenue and resulting in recurring royalty revenue to Fonix. Under the terms of this contract, Fonix will receive 20 percent of Netori gross sales, less sales and use taxes.
''This model of strong, recurring revenue contracts for Fonix high quality speech products with creative and progressive software and hardware companies like KunnSoft demonstrates the focus and direction of our business plan,'' said Paul S. Clayson, vice president of strategic business development for Fonix. ''In this case, the end product delivers intuitive, high demand software into key markets in Japan and Korea.''
Netori Education 2000 will be available in November. KunnSoft will introduce and demonstrate the Netori application at COMMNET '99, Sept. 14-16, in Osaka, Japan, and at COMDEX Japan, Nov. 9-12, in Tokyo. The product will be marketed via the Internet and through joint promotional arrangements with MBC Television based in Seoul, Korea.
About Fonix AV2001
The Fonix AV2001 Telephony/Multimedia Interface is an intelligent system of speech synthesis which emulates the mechanics of the human mind in the complex process of reading and voicing text. A robust, rules-based expert system analyzes the syntax created by a series of words, and determines how each word must be pronounced, in order to bring our the intended meaning of the text being processed. The system replicates how humans convert a line of text into a stream of text-sensitive sound pulsations. In this way, Fonix technology enables computers to tap the power of mankind's most natural mode of communication: voice.
About Fonix Corporation
Fonix(TM) Corporation develops and markets software products that enable intuitive human interaction with computers, consumer electronics, and other intelligent devices. Leading chip manufacturers, independent software and hardware vendors, and Internet content providers incorporate Fonix technologies to make their products easier and more convenient to use. Fonix products, including text-to-speech (TTS), automatic speech recognition (ASR), and handwriting recognition technology, provide the most natural communication solutions available. Fonix solutions can be easily implemented on multiple hardware and software platforms via the Fonix FAAST(TM) (Fonix Advanced Application Speech Toolkit) software development kit. For more information visit www.fonix.com or call 801-553-6600.
About KunnSoft Co., Ltd.
KunnSoft Co., Ltd. based in Seoul, Korea, was established in 1997 and specializes in management and communication software. KunnSoft has developed various management software applications for government, education, and corporate enterprise. KunnSoft developed Netori Instant Messenger 2000 (Realtime Instant Communication Software) and Netori Education 2000 (Realtime On-Line Education Software) for the Asian market.
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 expectations, hopes, intentions, and strategies for the future. Investors are cautioned that forward-looking statements involve 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. Other risk factors including 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 |
