Press ReleasesTeraRecon receives strategic capital investment from Fuji Film Co. San Mateo, CA--June 9, 2004: TeraRecon, Inc. today announced that Fuji Film Co., (Tokyo, Japan) has made a capital investment in the company and entered into a strategic alliance agreement relating to collaboration on new product and technology development. The agreement and investment occurred in March. Fuji Film Co. acquired 300,000 shares of newly issued series G preferred stock, representing 1.92% of issued equity in TeraRecon, for $4,950,000. Under the terms of the strategic alliance agreement, TeraRecon will apply the company's strong signal and image processing processor and software technologies to new product and technology development with Fuji Film Co. TeraRecon has developed a broad portfolio of core technology in high-speed signal and image processing which the company has used as the foundation for numerous subsystem projects undertaken on behalf of major equipment manufacturers, primarily in the diagnostic medical imaging field. Fuji Film Co. made the decision to invest after evaluation of this technology for 3D image processing and the high-speed processing of large image collections produced by modern medical imaging examinations. TeraRecon has deployed the same technologies in its own line of end-user products including advanced 3D and 4D image processing workstations and servers, and high-pixel density, high-resolution flat panel display systems. The company pursues the visionary goal of revolutionizing visual information management systems through widespread delivery of advanced functionality and powerful image processing performance. In the field of medical imaging, TeraRecon has already achieved early milestones with realization of an enterprise server delivering advanced image processing and diagnostic power to computers enterprise-wide. The company similarly believes that the consumer electronics field is also poised for dramatic change as this new disruptive technology enables new paradigms in distributed image management and manipulation. TeraRecon's chief executive, Motoaki Saito, M.D., Ph.D., said, "TeraRecon's strategic alliance with Fuji Film Co., a major corporation in the medical field, will allow us to explore a new world of opportunity by developing next generation products and technologies focused on the medical market and by employing a wide range of our proven signal and image processing expertise." Fuji Film Co. has built a successful technology-based business in image processing for the consumer market with products such as digital cameras, and for medical and industrial markets such as the reprographics industry. TeraRecon will pursue applications of its high-quality and high-speed signal and image processing technologies in Fuji Film Co.'s products to be developed and released in the near future. About TeraRecon, Inc. Contact:
|
|
