Official Company Statement From Avica Technology:
Avica Technology Corporation Enters Into Exclusive Licensing Agreement With DTS
Long a pioneering digital cinema technology and services leader, Avica Technology Corporation is proud to announce that it has entered into an exclusive licensing agreement with DTS, the world-renowned digital technology company dedicated to delivering the ultimate entertainment experience.
The license agreement provides DTS exclusive global rights to utilize Avica's suite of technologies, products and services, including Avica's FilmStoreTM family of products which handle content delivery and presentation for distribution networks. The agreement leverages existing DTS technologies and positions the company to compete more aggressively in the emerging D-cinema market.
Under the terms of the agreement, DTS also has the exclusive option to acquire the assets of Avica once certain conditions have been met.
"We are very excited about this partnership with DTS and the opportunity to fully develop the digital cinema market," said Nicholas Clay, Chairman and CEO of Avica. "We look forward to the work we can accomplish together. when DTS' leadership in digital entertainment is aligned with Avica's position in digital cinema technology."
"This licensing agreement with Avica significantly accelerates our entry into the digital cinema market and we are very optimistic that we will play an important role in the industry's transition toward the complete digital delivery of entertainment content," commented Jon Kirchner, president and CEO of DTS. "The addition of Avica's technology and product suite to our existing cinema and digital images offerings creates a unique and compelling solution for content creators, distributors and exhibitors as the world broadly adopts digital content distribution and exhibition platforms."