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Document Capture Announces Milestone Pan-Asia Licensing Agreement
Monday February 9, 4:01 pm ET
Far Reaching Sales Agreement between DCT and China-Based Syscan Technology Holdings
SAN JOSE, Calif.--(BUSINESS WIRE)--Document Capture Technologies, Inc. (OTCBB
CMT - News), an IP-driven worldwide leader in the design, development and sale of next-generation portable scanning technologies, today announced a major product sales licensing agreement with China-based company Syscan Technology Holdings (STH).
STH is a leading manufacturer and provider of 2D barcode scanning technology, products and application solutions throughout China. For ten years STH and one of its wholly owned subsidiaries have worked closely with DCT: manufacturing its products exclusively. This logical broadening of that relationship is expected to result in the expansion of the international market for DCT mobile scanners.
“This is a major threshold event for Document Capture as it provides significant pan-Asian market expansion for DCT’s products directly into China and Southeast Asia as well as India, Pakistan and Malaysia,” said David P. Clark, Chief Executive Officer of DCT. “The growth of the security and financial sectors in these markets, as well as those more established in Korea, Japan, and Singapore are potentially some of the fastest growing in the world. To move into these areas with such a strong partner as STH is a major step in DCT’s corporate and revenue growth.”
The one-year renewable agreement covers DCT’s six DocketPORT® series products, as well as future offerings currently in development. DCT will also provide STH with Software Development Kits (SDK’s) covering PC, Linux, Mac, and Win CE operating systems. In addition the two companies will work together in the defending of the IP behind these devices worldwide.
As a shareholder, Syscan Technology Holdings currently owns over 3 million shares of DCT common stock. It is expected that the expanded relationship between the two companies will produce mutual opportunity for ongoing market development and expansion in Asia and beyond.
“This is a win-win joining of forces in the manufacturing sale and market expansion of mobile scanners globally.” Cheung Wei, Chairman of STH commented. “We believe there is great opportunity in China and other emerging markets.”
DCT’s commitment to product innovation has resulted in demand-driven products at the forefront of the paper-to-digital revolution. The proliferation of paper-to-digital green initiatives, high security demands and accelerated financial transactions require innovative ways to digitally capture, authenticate, store, share, and manage information.