SOURCE: Vuzix Corporation

Vuzix Corporation

April 12, 2011 08:00 ET

Vuzix and metaio Partner to Deliver Augmented Reality Solutions to Customers

ROCHESTER, NY--(Marketwire - Apr 12, 2011) - Vuzix Corporation (TSX-V: VZX) (OTCBB: VUZI) (FRANKFURT: V7X) ("Vuzix" or, the "Company"), today announced that it has formed a marketing and development partnership with metaio, the leader in the field of professional Augmented Reality (AR) software systems, to deliver head mounted display (HMD) solutions for their customers. The two companies will work together to identify and deliver customer solutions that require both metaio's AR software capability and Vuzix's line of AR-enabled Video Eyewear.

Paul Travers, President of Vuzix, commented, "Both metaio and Vuzix are leaders in and at the forefront of AR markets with highly complementary offerings. With Vuzix providing its award winning Video Eyewear products and engineering services and metaio providing its leading software platforms and software engineering capability, we believe that together we can better address this rapidly emerging market need."

metaio and Vuzix have identified a number of common customers that require integrated hands-free HMD solutions for applications such as marketing and advertising, assembly, maintenance, on-site and on the factory floor problem solving, training and education and entertainment. On a non-exclusive basis, the two companies will work with each other to assist customers in developing and delivering such solutions.

Added Roman Hasenbeck, Director Business Development, metaio Inc., "Our company has provided AR software for over 8 years and Vuzix is the first company to deliver a complete line of AR-enabled Video Eyewear, which includes both digital and optical see-through glasses that are high resolution and easy to wear. These are essential features for our customers. We believe that with Vuzix, we will finally be able to satisfy the needs of our many customers and partners for a hands-free solution."

As part of the new relationship each will become members of the respective company's Premier Developer Partner network. metaio's Unifeye® software suite is compatible with Vuzix's most recent software development kit (SDK) and being a part of each other's partner network will entitle each company to previews and advance release product to ensure seamless integration on future releases. Vuzix will also attend metaio's InsideAR 2011 Fair to be held September 26 to 27, 2011 in Munich, Germany.

Forward-Looking Statements Disclaimer

Certain statements contained in this release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward-looking statements contained in this release relate to, among other things, new opportunities from the partnership, the Company's ability to capitalize on new opportunities and the Company's leadership in the Video Eyewear industry. They are generally identified by words such as "plans," "seeks," "believes," "may," "expects," "anticipates," "should'" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to the timing of new product launches; delays in both hardware and software product development; and dependence on third parties for certain key components and other software deliverables. These risk factors and others are described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.

About Vuzix Corporation

Vuzix is a leading supplier of Video Eyewear products in the defense, consumer and media & entertainment markets. The Company's products, personal display devices that offer users a portable high quality viewing experience, provide solutions for mobility, thermal sighting systems, tactical wearable displays and Virtual and Augmented Reality. With its origins in defense research and development for next generation display solutions, Vuzix holds over 51 patents in the Video Eyewear field. The Company has won 9 Consumer Electronics Show Innovations Awards, the Retail Vision Best New Product and several wireless technology innovation awards, among others. Founded in 1997, Vuzi is a public company (TSX-V: VZX) (OTCBB: VUZI) (FRANKFURT: V7X) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. For more information visit www.vuzix.com.

About metaio

As the worldwide leader in Augmented Reality technology, metaio develops software products for visual interactive solutions between the real and the virtual world. Based on the software platform Unifeye, 3D-animations can be integrated seamlessly into live-video streams respectively into pictures of the user's real environment. Founded in February 2003, metaio currently employs 70+ people at three different locations. The company is headquartered in Munich with the subsidiaries metaio Inc. located in San Francisco USA and metaio Asia in Seoul. metaio has been working with more than 450 renowned customers from different industries and geographical locations. Among them: BMW, Daimler, Siemens, Toyota, Peugeot, EADS, Bertelsmann, KUKA, LEGO, MINI, Popular Science, Focus Features and Volkswagen. For more information visit www.metaio.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • For further information, please contact:

    Charlotte Walker
    VP Corporation Communications
    Email Contact
    75 Town Centre Dr., Rochester, NY USA
    Tel: +1 (585) 359-5910

    Jan Schlink
    Corporate Communications
    Email Contact
    Tel: +49 (0)89/ 5480-198-14