Science & Technology
Science and Technology
Science and Technology
Tue, February 10, 2009
Mon, February 9, 2009
Document Capture Announces Milestone Pan-Asia Licensing Agreement
SAN JOSE, Calif.--([ BUSINESS WIRE ])--Document Capture Technologies, Inc. (OTCBB:DCMT), an IP-driven worldwide leader in the design, development and sale of next-generation portable scanning technologies, today announced a major product sales licensing agreement with China-based company Syscan Technology Holdings (STH).
STH is a leading manufacturer and provider of 2D barcode scanning technology, products and application solutions throughout China. For ten years STH and one of its wholly owned subsidiaries have worked closely with DCT: manufacturing its products exclusively. This logical broadening of that relationship is expected to result in the expansion of the international market for DCT mobile scanners.
"This is a major threshold event for Document Capture as it provides significant pan-Asian market expansion for DCT's products directly into China and Southeast Asia as well as India, Pakistan and Malaysia," said David P. Clark, Chief Executive Officer of DCT. "The growth of the security and financial sectors in these markets, as well as those more established in Korea, Japan, and Singapore are potentially some of the fastest growing in the world. To move into these areas with such a strong partner as STH is a major step in DCT's corporate and revenue growth."
The one-year renewable agreement covers DCT's six DocketPORT® series products, as well as future offerings currently in development. DCT will also provide STH with Software Development Kits (SDK's) covering PC, Linux, Mac, and Win CE operating systems. In addition the two companies will work together in the defending of the IP behind these devices worldwide.
As a shareholder, Syscan Technology Holdings currently owns over 3 million shares of DCT common stock. It is expected that the expanded relationship between the two companies will produce mutual opportunity for ongoing market development and expansion in Asia and beyond.
"This is a win-win joining of forces in the manufacturing sale and market expansion of mobile scanners globally." Cheung Wei, Chairman of STH commented. "We believe there is great opportunity in China and other emerging markets."
DCT's commitment to product innovation has resulted in demand-driven products at the forefront of the paper-to-digital revolution. The proliferation of paper-to-digital green initiatives, high security demands and accelerated financial transactions require innovative ways to digitally capture, authenticate, store, share, and manage information.
About Document Capture Technologies
Document Capture Technologies (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 more than 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, VARs and other system integrators, including Qualcomm and Brother.
DCT has steadily grown its business (37% three-year organic CAGR through 2007) in the health care, security, financial and compliance vertical markets. The company estimates that it and its licensees currently enjoy a majority share of the rapidly expanding 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.
