ORLANDO, Fla., Jan 24, 2001 (BUSINESS WIRE) -- iQrom Communications, Inc.
(OTCBB: IQCO), along with its sourcing partner, Diskxpress, today announced a
broad strategic alliance with Victor Company of Japan (`JVC'), a leader in the
development and manufacture of digital data technologies and products.
The new alliance between JVC and iQrom gives both companies the opportunity to
utilize certain technologies of the other throughout the world. JVC, through its
patented CD Hybrid technology, has developed a CD technology which in CD-Card
format has the potential to take a significant share of the world wide `Smart
Card' market. By combining this with iQrom's rights under the basic U.S. patents
covering the standard structure of the CD-Card and iQrom's powerful Soft CD(TM)
updating technology, for which iQrom has acquired the worldwide exclusive rights
from iOra Limited, iQrom will now have the opportunity to enter into the vast
new fast-growth market for Smart Card applications for broad mass market
distribution. Planned applications include a medical card, on which data can be
personalized and regularly updated with new information, and a bank debit card.
The alliance between JVC and iQrom will also provide both companies the
opportunity to expand their existing activities in the rapidly growing CD-Card
market, particularly in the U.S., where JVC has already established capacity to
manufacture and sell CD-Cards utilizing iQrom's technology. iQrom has agreed to
utilize JVC's manufacturing facilities both in the U.S. and Japan to fulfill
local demand. JVC has also agreed to support iQrom in developing and securing
its intellectual property in the U.S. market.
Independent market research estimates the market for pre-recorded CD-Cards to be
341 million units this year and growing year by year. Such observers see much
larger potential for CD Hybrid Cards which can be economically mass produced and
still enable end users to customize content. In addition, iQrom's updateability
technology will enable publishers of information to update or change
personalized information stored on such CD-Cards via the Internet providing the
opportunity to develop unique applications.
Tom Elek, Chief Executive of iQrom, said, "We are delighted to partner with a
company of JVC's worldwide stature and combine our respective capabilities. The
alliance is also an affirmation of iQrom's technology and provides a vital step
in our efforts to build a leadership position in digital data storage and
management."
"The programmable, updateable CD, which we will uniquely offer, lends tremendous
power to users' e-commerce solutions, direct marketing and other efforts," he
noted. "With an unrivalled ability to precisely manage digital-content-based
customer relationships, users can offer an unlimited array of value-adding
offers such as premiums, individualized incentives and other features. And they
can do so in a totally secure environment where they `push' content to the
customer and control it reliably."
By way of example, Elek cited three such markets. "Healthcare organizations may
now offer a medical card that is secure, updateable by the hospital, and
individually customized. Financial service companies like banks can field debit
cards with unique new features. And travel-related firms can introduce
personalized cards which can be used as loyalty or membership cards.
"In sum, with this alliance iQrom can bring the most powerful technology in the
new media market to our clients' needs and is well-positioned to enter vast new
markets," Elek concluded.
According to Hajime Takashima, Managing Director of JVC, "We look forward to
developing new business with iQrom in the U.S. and elsewhere in combining our
respective technologies as market leaders. Additionally, we would like to aim at
establishing CD-Card using CD Hybrid technology as a de-facto standard like the
VHS system. We are expecting that this would be realized through the new
strategic alliance with iQrom. We are confident that our Hybrid CD-Card would
provide worldwide users with convenience and entertainment in a digital and
network society."
IQrom is a rapidly expanding international digital communications firm that is
pioneering the development and commercialization of a new generation of
CD-ROM-based technologies and business solutions planned for wide application in
numerous industry segments. iQrom holds the exclusive worldwide rights to a
revolutionary CD-U (CD-updateable) technology that enables conventional CD-ROMs,
DVDs and a proprietary line of CD-Cards to be updated automatically and
virtually instantaneously by Internet from any Internet-connected PC in the
world. The CD-U combines the real-time capability and global reach of the
Internet with the dependability and efficiency of the CD-ROM. Targeted by iQrom
to become a standard format for digital information delivery, CD-Us are
integrated into existing communications and e-commerce strategies allowing
businesses to provide a constant flow of up-to-date information to end-users.
Additional information about the Company can be obtained at its website
(www.iqrom.com).
JVC, well known for its invention of the VHS format of VCR, is a leading
international electronics company that has achieved success by combining its
excellence in audio and video hardware with its global-scale software business,
and also has a growing reputation for its professional equipment. JVC operates
several business lines through which it offers a wide variety of devices and
solutions. JVC business lines are Video, Audio, TV, Entertainment,
Information-related Equipment and Component Devices. Headquartered in Yokohama,
Japan, JVC was founded in 1927. For more information, visit the JVC Web site at
www.jvc-victor.co.jp.
This news release may include statements that constitute forward-looking
statements, usually containing the words "believe", "estimate", "projects",
"expects" or similar expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements.
By making these forward-looking statements, the Company undertakes no obligation
to update these statements for revision or changes after the date of this
document.
CONTACT: iQrom Communications, Inc.
Brent Tiano, 407/299-2230
or
Investor Access Corporation
Michael Seely, 203/353-8200
URL: www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
(OTCBB: IQCO), along with its sourcing partner, Diskxpress, today announced a
broad strategic alliance with Victor Company of Japan (`JVC'), a leader in the
development and manufacture of digital data technologies and products.
The new alliance between JVC and iQrom gives both companies the opportunity to
utilize certain technologies of the other throughout the world. JVC, through its
patented CD Hybrid technology, has developed a CD technology which in CD-Card
format has the potential to take a significant share of the world wide `Smart
Card' market. By combining this with iQrom's rights under the basic U.S. patents
covering the standard structure of the CD-Card and iQrom's powerful Soft CD(TM)
updating technology, for which iQrom has acquired the worldwide exclusive rights
from iOra Limited, iQrom will now have the opportunity to enter into the vast
new fast-growth market for Smart Card applications for broad mass market
distribution. Planned applications include a medical card, on which data can be
personalized and regularly updated with new information, and a bank debit card.
The alliance between JVC and iQrom will also provide both companies the
opportunity to expand their existing activities in the rapidly growing CD-Card
market, particularly in the U.S., where JVC has already established capacity to
manufacture and sell CD-Cards utilizing iQrom's technology. iQrom has agreed to
utilize JVC's manufacturing facilities both in the U.S. and Japan to fulfill
local demand. JVC has also agreed to support iQrom in developing and securing
its intellectual property in the U.S. market.
Independent market research estimates the market for pre-recorded CD-Cards to be
341 million units this year and growing year by year. Such observers see much
larger potential for CD Hybrid Cards which can be economically mass produced and
still enable end users to customize content. In addition, iQrom's updateability
technology will enable publishers of information to update or change
personalized information stored on such CD-Cards via the Internet providing the
opportunity to develop unique applications.
Tom Elek, Chief Executive of iQrom, said, "We are delighted to partner with a
company of JVC's worldwide stature and combine our respective capabilities. The
alliance is also an affirmation of iQrom's technology and provides a vital step
in our efforts to build a leadership position in digital data storage and
management."
"The programmable, updateable CD, which we will uniquely offer, lends tremendous
power to users' e-commerce solutions, direct marketing and other efforts," he
noted. "With an unrivalled ability to precisely manage digital-content-based
customer relationships, users can offer an unlimited array of value-adding
offers such as premiums, individualized incentives and other features. And they
can do so in a totally secure environment where they `push' content to the
customer and control it reliably."
By way of example, Elek cited three such markets. "Healthcare organizations may
now offer a medical card that is secure, updateable by the hospital, and
individually customized. Financial service companies like banks can field debit
cards with unique new features. And travel-related firms can introduce
personalized cards which can be used as loyalty or membership cards.
"In sum, with this alliance iQrom can bring the most powerful technology in the
new media market to our clients' needs and is well-positioned to enter vast new
markets," Elek concluded.
According to Hajime Takashima, Managing Director of JVC, "We look forward to
developing new business with iQrom in the U.S. and elsewhere in combining our
respective technologies as market leaders. Additionally, we would like to aim at
establishing CD-Card using CD Hybrid technology as a de-facto standard like the
VHS system. We are expecting that this would be realized through the new
strategic alliance with iQrom. We are confident that our Hybrid CD-Card would
provide worldwide users with convenience and entertainment in a digital and
network society."
IQrom is a rapidly expanding international digital communications firm that is
pioneering the development and commercialization of a new generation of
CD-ROM-based technologies and business solutions planned for wide application in
numerous industry segments. iQrom holds the exclusive worldwide rights to a
revolutionary CD-U (CD-updateable) technology that enables conventional CD-ROMs,
DVDs and a proprietary line of CD-Cards to be updated automatically and
virtually instantaneously by Internet from any Internet-connected PC in the
world. The CD-U combines the real-time capability and global reach of the
Internet with the dependability and efficiency of the CD-ROM. Targeted by iQrom
to become a standard format for digital information delivery, CD-Us are
integrated into existing communications and e-commerce strategies allowing
businesses to provide a constant flow of up-to-date information to end-users.
Additional information about the Company can be obtained at its website
(www.iqrom.com).
JVC, well known for its invention of the VHS format of VCR, is a leading
international electronics company that has achieved success by combining its
excellence in audio and video hardware with its global-scale software business,
and also has a growing reputation for its professional equipment. JVC operates
several business lines through which it offers a wide variety of devices and
solutions. JVC business lines are Video, Audio, TV, Entertainment,
Information-related Equipment and Component Devices. Headquartered in Yokohama,
Japan, JVC was founded in 1927. For more information, visit the JVC Web site at
www.jvc-victor.co.jp.
This news release may include statements that constitute forward-looking
statements, usually containing the words "believe", "estimate", "projects",
"expects" or similar expressions. These statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements.
By making these forward-looking statements, the Company undertakes no obligation
to update these statements for revision or changes after the date of this
document.
CONTACT: iQrom Communications, Inc.
Brent Tiano, 407/299-2230
or
Investor Access Corporation
Michael Seely, 203/353-8200
URL: www.businesswire.com
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
Copyright (C) 2001 Business Wire. All rights reserved.
