PALO ALTO, CALIFORNIA and TORONTO, ONTARIO — (Marketwired) — 12/01/14 — Spectra7 Microsystems Inc. (TSX VENTURE: SEV) (“Spectra7” or the “Company”), today announced it has received a significant multi-product order for its latest VR7200 Dual Screen Virtual Reality (“VR”) and HT8181 Ultra HD 4K Display products from a leading provider of VR and Home Theater products to major OEM brands. This turnkey Early Access Program order amounts to approximately CDN $500,000 and also calls for multiple versions of Spectra7–s patented RT8000 automated certification platforms. These latest products will enable the customer to deliver highly differentiated ultra-light, ultra-thin interconnects in both Virtual Reality and Ultra HD TV markets.
With more than 20 vendors developing Virtual Reality products(1) and over 70 million Ultra HD 4K TVs projected to ship in 2018(2), Spectra7 is uniquely positioned to capitalize on the increased market demand with its latest chips which will enable the requisite performance to deliver differentiated products for Virtual Reality, Wearable Computing and Ultra HD 4K Displays. The Company is already shipping its current generation of VR and 18Gbps high-speed products to multiple leading OEMs and consumer brands.
“This new order highlights our ability to simultaneously engage in multiple applications per customer as they move to higher resolutions that require faster and lighter interconnects,” said Tony Stelliga, CEO of Spectra7. “Spectra7 enables these dramatically higher speeds without burdening the consumer with traditional heavy, thick, and expensive interconnects.”
Spectra7–s patented RT8000 is a new family of high-speed automated validation platforms. The RT8000 enables OEMs to certify and optimize each final interconnect assembly for signal integrity performance while maximizing manufacturing throughput.
Spectra7–s Early Access Partners benefit from comprehensive design support through the Company–s Worldwide Signal Integrity Centers of Excellence which feature advanced, state-of-the-art testing and compliance equipment and decades of high speed, active cable signal processing and power delivery engineering expertise.
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high performance consumer connectivity company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading consumer electronics manufacturers in Virtual Reality, Wearable Computing and UltraHD 4K/8K Displays. Spectra7 is based in Palo Alto, California and Markham, Ontario with a Design Center in Cork, Ireland. For more information, please visit .
CAUTIONARY NOTES
Certain statements contained in this press release constitute “forward-looking statements” within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company–s future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “plan”, “continue”, “will”, “may”, “would”, “anticipate”, “estimate”, “forecast”, “predict”, “project”, “seek”, “should” or similar expressions or the negative thereof, are forward-looking statements. These statements and assumptions are not historical facts but instead represent only the Company–s expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Additional factors that could cause actual results, performance and achievements to differ materially include, but are not limited to, the risk factors discussed in the Company–s annual MD&A for the year ended December 31, 2013. Actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Neither the 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.
(1) KZero Consulting
(2) DisplaySearch
Contacts:
Spectra7 Microsystems Inc.
Sean Peasgood
Investor Relations
416.565.2805
Spectra7 Microsystems Inc.
Melissa Chee
Vice-President, Product Management and Corporate Marketing
647.472.2468
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