MINNEAPOLIS, MN — (Marketwired) — 07/10/13 — (OTCQB: SOUL), “The Company,” a video and computer games company, announced today it has signed a software development agreement with (OTCBB: VUZI), a leading developer and supplier of smart glasses. As part of its cross-platform strategy to develop game titles across all platforms, Soul and Vibe will now be developing games that run on Vuzix smart glasses in addition to gaming consoles, mobile devices such as smartphones and tablets, and PCs.
According to a , Juniper Research projects augmented reality apps will generate $300 million in revenues through paid application downloads, post-download content, and advertising in 2013 and this number is estimated to grow to $5.2 billion by 2017. Juniper further estimates that 2.5 million augmented reality apps will be downloaded by 2017 and that a large majority of these apps will be for games. Soul and Vibe plans to initially develop games compatible with Vuzix-s Wrap 1200 video eyewear which is already sold worldwide through retailers including Apple.com, Amazon, Sharper Image, Brookstone and Macy-s. The Company also intends to develop gaming content for Vuzix-s upcoming wearable technology products including the B2500 binocular smart glasses that are positioned to be the first fashion eyewear smart glasses on the market and are slated for release in the summer of 2014.
“Wearable technology, and in particular smart glasses, is emerging as an exciting new hardware platform for gaming. As a console, mobile, and PC games publisher, Soul and Vibe is particularly excited about how smart glasses can create a deeply engaging and immersive entertainment experience,” stated Soul and Vibe-s CEO and President, Peter Anthony Chiodo (“Tony”). “These new devices can be used as either stand-alone gaming platforms or be integrated with other platforms such as consoles, mobile devices, and PCs to create a dynamic augmented reality gaming experience.”
“Vuzix is a clear industry leader in smart glasses and we are excited to develop games that run on their platforms. The augmented reality component of Vuzix glasses lends itself to the development of exciting new applications and experiences that would otherwise not be possible,” Chiodo added.
“We-ve had a very enthusiastic reception from software developers across a spectrum of industries. Having a plethora of applications and games that run on our wearable devices is an important driver in the broader consumer markets,” stated Vuzix President and CEO Paul J. Travers. “Tony has a very impressive track record launching successful games and we look forward to seeing people enjoying Soul and Vibe games on Vuzix smart glasses.”
An article from Forrester Research articulates the impact of wearable devices across industries including gaming. To read the Forrester article visit:
According to , wearable computing devices will exceed 485 million annual device shipments by 2018.
Vuzix is a leading supplier of video and cloud connected video eyewear products in the consumer, industrial, media and entertainment markets. The company-s personal display products offer users a portable high quality viewing experience for industrial wearable displays, consumer digital content viewing as well as 3D, virtual and augmented reality experiences. Vuzix also provides developer software and support to enable the growth and development of AR applications for its mobile devices. With its origins in defense research and development for next generation display solutions, Vuzix holds over 48 patents and patents pending in the video eyewear field. The company has won 14 Consumer Electronics Show Innovations Awards, the RetailVision Best New Product and several wireless technology innovation awards, among others. Founded in 1997, Vuzix is a public company (TSX-V:VZX – News, OTC:BB: VUZI, FMB: V7X) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan. For more information visit .
Soul and Vibe Interactive Inc. (also Soul & Vibe Interactive Inc. on ) is a publisher of games and games-related content for consoles, mobile devices, and personal computers addressing a $56 billion market projected to grow to $82 billion by 2015. The Company specializes in the creation of original intellectual properties and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has a license agreement with General Mills, and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft, and the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony. Through partnerships with technically sophisticated software developers located all over the world, Soul and Vibe transforms unique concepts into engaging, highly accessible, and affordable games and entertainment experiences. .
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This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release, including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company-s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company-s estimates as of the date of the press release, and subsequent events and developments may cause the Company-s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company-s estimates of its future financial performance as of any date subsequent to the date of this press release.
Investor Relations
Andrew Haag
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Soul and Vibe Interactive Inc.
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