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Document Capture Announces Supply Agreement with Qualcomm

^{Published on 2008-12-08 14:35:24 - Market Wire}
 

SAN JOSE, Calif.--([ BUSINESS WIRE ])--Document Capture Technologies, Inc. (OTCBB:DCMT), a leading designer and manufacturer of secure imaging solutions for OEMs worldwide and one of the largest manufacturers of private-label USB-powered mobile document scanners, announced today that it has reached an agreement with Qualcomm Incorporated (NASDAQ:QCOM), a leading developer and innovator of advanced wireless technologies and data solutions, to supply mobile scanning hardware technology to support Qualcomm's In-Cab Scanning service for transportation and logistics carriers.

"Qualcomm's selection of our proprietary mobile hardware for use with their In-Cab Scanning service is a significant validation of our product development efforts," said William Hawkins, President of Document Capture Technologies. "The successful conclusion of our year-long pilot program and purchasing agreement validate our latest product design and expands our distribution channel in the transportation market. We look forward to a long and mutually beneficial relationship with Qualcomm."

The DCT in-cab truck solutions facilitate the digital capture and processing of various types of paperwork involved in trucking/shipping transactions, including mileage reports, bills of lading and other critical information, directly resulting in improved productivity and profitability. Qualcomm's In-Cab Scanning service truncates the time to invoice production, thereby helping to reduce costs and significantly shortening payment time.

Meeting the needs of fleets of all sizes, Qualcomm's OmniVision^SM Transportation Services help reduce operating costs and increase revenue through improved productivity, enhanced security, and proactive fuel management.

About Document Capture Technologies

Document Capture (DCT) is a worldwide leader in the design, development, manufacturing, and sale of USB powered mobile page-fed document capture solutions. Its vertical integration and innovative proprietary system development kits allow for a broad range of applications, faster time-to-market and ease of integration for its customers.

DCT has approximately 45 key accounts, predominantly in North America and a growing intellectual property (IP) portfolio that currently numbers more than 25 granted domestic and international patents as well as 3 pending. DCT maintains an aggressive IP strategy to defend its technology and market leadership position.

DCT provides more than 30 different products across five distinct categories, which are distributed globally through private label solutions to leading Tier 1 OEMs, VAR's and other system integrators, such as Qualcomm, CardScan, Visioneer, and Pentax. DCT has steadily grown its business (37% three-year organic CAGR) based on document capture-verification in the health care, law enforcement, insurance, financial, banking and compliance vertical markets. The company currently enjoys a 72% share of the USB-powered mobile scanner market.

Forward-Looking Statements

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond the Company's control that could cause actual events and results to differ materially from these statements. These risks include, without limitation, that there can be no assurance that any strategic opportunities will be available to the Company and that any strategic opportunities may only be available on terms not acceptable to the Company. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Document Capture undertakes no obligation to update publicly any forward-looking statements.