CHATSWORTH, CA--(Marketwire - Oct 29, 2012) - Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (PINKSHEETS: PVHO), announced today that it has entered into a Market Development Agreement with its strategic partner, Laguna Access Fund, LLC ("Laguna"). Under the terms of the agreement, Laguna will underwrite the cost of manufacturing and installing Provision's 3D Holographic kiosks in approximately 1,000 retail stores located in the top demographic markets of the United States. The agreement represents an $8 million Laguna commitment to Provision's 3D Network. Laguna has issued the first purchase order against the agreement. First kiosks are expected to be in place during the first quarter of 2013.
This rollout will make Provision's network the largest 3D out-of-home digital network in the United States. The 3D kiosks are capable of projecting floating 3D holographic videos in front of the screen without the need for any special glasses and without any discomforting eye stress. The kiosks are able to dispense coupons, promotions and sweepstakes and to drive any number of marketing campaigns imaginable by the retailer or advertiser.
Provision is handling the ad sales, network administration, and content production. Each store will have Provision's 3D Holographic Display, the award-winning "3D Product of the Year," awarded by Frost & Sullivan in 2010.
"We are very excited about our relationship with Laguna Access Fund," said Provision CEO Curt Thornton. "This agreement allows Provision to showcase its powerful glasses-free, eye stress free, 3D holographic technology to a critical mass of consumers by integrating it into a high traffic destination inside a leading retailer."
About Provision Interactive Technologies, Inc.
Provision Interactive Technologies, Inc., a subsidiary of the publicly traded company Provision Holding, Inc. (PINKSHEETS: PVHO), is the leading purveyor of intelligent interactive 3D holographic display technologies, software, and integrated solutions for both commercial and consumer focused applications. Provision's 3D holographic display systems represent a revolutionary technology that provides the projection of full-color, high-resolution videos into space detached from the screen, without any special glasses. Provision is the recipient of the 2010 Frost & Sullivan 3D Holographic Display Product of the Year Award. For more information, please visit Provision at www.Provision.tv.