Tokyo, Japan -- 17 May, 2000 -- As a part of the Company's strategic alliance program, Orad Hi-Tec Systems (Neuer Markt: OHT) (http://www.orad.co.il), the world leader in virtual sets, virtual advertising, sports production tools and immersive sports webcasting technologies, announced that a strategic business alliance with IMAGICA Corp. has been completed, naming IMAGICA Corp. as Orad's second Japanese distributor reinforcing domestic sales and enriching customer service and system integration. Orad also announced a sale of Orad's CyberSport to IMAGICA Corp., further penetrating the Asian market.

Since its founding in 1935, IMAGICA has taken the lead in visual culture with unquestionable technology as its foundation and is currently one of the largest post production facilities in Japan as well as in the entertainment industry in providing 3D computer graphics tools. With eight offices located throughout Tokyo and Osaka, IMAGICA has more than forty digital video editing bays, telecine bays and audio mixing studios that produce digital and optical visual effects for feature films, television commercials and programs. Masato Hoshi, Managing Director of IMAGICA said that "IMAGICA has always communicated through images to society and the world at large. We see the digital image market as an attractive, fast growing market. Through our experience in virtual sets, real-time characters and real-time graphics, we are very pleased to be able to supply our customers with this new solution. Also, by forming this strategic alliance, we are able to develop a new business strategy with Orad."

IMAGICA is highly regarded in the industry for their production and system integration technologies including, digital imaging systems, audio-visual systems for amusement facilities, visual media contents, and digital and optical visual effects for commercials and TV programs. In Japan, Orad has signed an agreement with IMAGICA, which will promote domestic sales of Orad's products and will develop various programs for system integration and technical support that will in turn strengthen Orad's presence in the region.

Orad's CyberSport system will be used to enhance the live sports broadcasts of baseball and golf, the two most popular sporting events in Japan, as well as SUMO wrestling. Avi Sharir, President and Chief Executive Officer of ORAD said that "IMAGICA has the power to respond. Maximizing all their technology, facilities, and their 65-year track record in the industry will broaden our client base, and expand our horizons in the sports field by adding SUMO wrestling to the many ways that the CyberSport system can be used in the industry. This new trend will ultimately increase the demand for exciting live sports broadcasting enhancements tools, and Orad will be ideally situated to meet these demands."

About IMAGICA
IMAGICA Corporation, founded in 1935, has taken the lead in visual culture with unquestionable technology as its foundation. IMAGICA specializes in Imaging, Image Systems Engineering, Image Producing, and Image Broadcasting. Currently employing 670 employees in eight locations throughout Tokyo and Osaka, IMAGICA is one of the largest motion picture film laboratories in Japan, as well as one of the largest high-end post-production facilities.

About Orad
Orad is a publicly-traded company, whose principal investors are ISL, the world's largest sports sponsorship organization, Intel Atlantic Inc., a subsidiary of Intel Corporation and the ORMAT Group, a publicly-traded conglomerate of companies engaged in high-tech investments, optical inspection, alternative energy and sophisticated medical diagnostics.

Founded in 1993, Orad is a world leader in virtual studios, virtual advertising, sports production tools and immersive sports webcasting technologies, specializing in the development and manufacture of video and real-time image processing technologies. Orad has received extensive worldwide recognition for its systems at a wide range of events.

 

Post a message in the Digital Post Production World Wide User Group!