ACCESS INTEGRATED TECHNOLOGIES TO ACQUIRE BOEING DIGITAL CINEMA ASSETS
- TRANSACTION SOLIDIFIES ACCESSIT'S LEADING POSITION IN THE
EMERGING DIGITAL CINEMA INDUSTRY -
- BOEING AND ACCESSIT ENTER INTO AGREEMENT FOR DATA SERVICES -
MORRISTOWN, N.J. - March 30, 2004 - Access Integrated Technologies, Inc.
("AccessIT") (AMEX:AIX) has acquired the assets of Boeing Digital Cinema, a
business unit of Boeing Integrated Defense Systems (IDS), a unit of The Boeing
Company (NYSE:BA).
Under the agreement, ACCESSIT will acquire Boeing Digital Cinema's installed
base of digital projection systems located in cinemas throughout the United
States, digital projectors, spares, and associated content servers and satellite
transmission equipment. In addition, Boeing and AccessIT have reached agreement
for AccessIT to provide for the utilization of its data services. Additional
details were not disclosed.
"If there were any questions about ACCESSIT's position as the leading technology
service provider for the digital cinema industry, this acquisition should put
those to rest," commented Xxx Xxxx, Chief Executive Officer of ACCESSIT. He
continued; "Boeing's in-theatre projection systems will allow us to service our
distribution customers immediately as a proof-of-concept while we await a larger
rollout of 2K systems later this year."
The digital cinema technology involves the delivery and exhibition of
pre-recorded entertainment content from the content owner, such as a major
motion picture studio, to local movie theatres in digital form, eliminating
physical film. This technology offers many advantages over traditional or analog
celluloid film. It provides vastly superior visual and audio quality and
importantly, eliminates the inefficient and time-consuming printing and
distribution of bulky film prints.
Digital cinema requires the seamless integration of many complex technologies
including projection, content management and storage, and secure distribution --
elements that, only recently, have been brought together by ACCESSIT and its
subsidiaries, Hollywood Software, Access Digital Media and Core Technology
Services.
ACCESSIT's end-to-end solution ranges from distribution scheduling where film
release schedules and distribution instructions are determined to digital master
storage in one of ACCESSIT's carrier-grade data centers, through to managed,
secure delivery via satellite and fiber technology to a digitally enabled
cinema.
Xxxxxxx Xxxxxxx, President and COO of Access Digital Media the AccessIT
subsidiary which will utilize the Boeing assets to complement its robust digital
delivery platform added, "With this installed base of cinema projectors and
related hardware, ACCESSIT now possesses the first truly end-to-end digital
cinema solution, one that is capable of seamlessly scheduling, storing,
delivering, and exhibiting full-length digital entertainment content."
Xx. Xxx Xxxxx, Vice President of Network Enabled Solutions for The Boeing
Company, stated, "Boeing has long been an early supporter of digital cinema and
is pleased to transition its industry-leading technology to AccessIT, an
organization that clearly sees the future and the potential this technology
offers. With these digital cinema assets, AccessIT's system is the
first-of-its-kind and one that can seamlessly support this emerging market
place."
ACCESS INTEGRATED TECHNOLOGIES, INC. (ACCESSIT) is an early mover in offering a
fully managed storage and delivery service for owners and distributors of
digital content. Supported by its robust platform of fail-safe Internet data
centers (ACCESSCOLOCENTERSSM), ACCESSIT is able to leverage the market-leading
role of its Hollywood Software subsidiary with the innovative digital delivery
capabilities of its ACCESS Digital Media (ACCESSDM) unit to provide the highest
level of technology available to service the emerging digital cinema industry.
A unit of The Boeing Company, Integrated Defense Systems is one of the world's
largest space and defense businesses. Headquartered in St. Louis, Boeing
Integrated Defense Systems is a $27 billion business. It provides systems
solutions to its global military, government and commercial customers. It is a
leading provider of intelligence, surveillance and reconnaissance; the world's
largest military aircraft manufacturer; the world's largest satellite
manufacturer and a leading provider of space-based communications; the primary
systems integrator for U.S. missile defense; NASA's largest contractor; and a
global leader in launch services. For more information, visit
xxxx://xxx.xxxxxx.xxx/xxx/xxxxx.xxxx.
SAFE HARBOR STATEMENT
Investors and readers are cautioned that certain statements contained in this
document, as well as some statements in periodic press releases and some oral
statements of ACCESSIT officials during presentations about ACCESSIT, are
"forward-looking" statements within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include
statements that are predictive in nature, which depend upon or refer to future
events or conditions, which include words such as "expects", "anticipates",
"intends", "plans", "could", "might", "believes", "seeks", "estimates" or
similar expressions. In addition, any statements concerning future financial
performance (including future revenues, earnings or growth rates), ongoing
business strategies or prospects, and possible future actions, which may be
provided by ACCESSIT's management, are also forward-looking statements as
defined by the Act. Forward-looking statements are based on current expectations
and projections about future events and are subject to various risks,
uncertainties and assumptions about ACCESSIT, its technology, economic and
market factors and the industries in which ACCESSIT does business, among other
things. These statements are not guarantees of future performance and ACCESSIT
has no specific intention to update these statements.
# # #
Contact:
Xxx Xxxx Xxxxxxx Xxxxxxxx
ACCESSIT The Dilenschneider Group
973.290.0080 212.922.0900
XXX.XXXXXXXXX.XXX
Xxxxxxx X. Xxxxxxx Xxxxxxxx Xxxxxxx
President, Chief Operating Officer The Boeing Company
ACCESSDM Xxxxxxxx.xxxxxxx@xxxxxx.xxx
323.957.3189 000-000-0000
xxxxxxxx@xxxxxxxxx.xxx
