QI Systems and Cyberdyne Gaming Form Strategic Partnership
May 04 2004 - 6:00AM
PR Newswire (US)
QI Systems and Cyberdyne Gaming Form Strategic Partnership
RICHMOND, British Columbia and PHOENIX, May 4
/PRNewswire-FirstCall/ -- Mr. Steven R. Garman, President and CEO
of QI Systems Inc. (OTC Bulletin Board: QIIIF; TSX: QII.U) of
Richmond, BC, Canada (a leader in smart card solutions), and Mr.
Phil Lulek, CEO of Cyberdyne Gaming, Inc. of Phoenix, Arizona (a
premier provider of gaming equipment), are pleased to announce that
a multi-part strategic partnership agreement has been signed by the
two companies. The agreement includes provisions for each company
to distribute products of the other partner and is expected to
create substantial new market opportunities for both companies.
Effective immediately Cyberdyne Gaming, Inc.
(http://www.cyberdynegaming.com/) is appointed as a preferred
distributor of QI smart card and stored value products for the U.S.
gaming industry. Products included within the distributorship
encompass QI stored value and secure ID chip cards, SmartKit card
payment terminals, SmartKit Console value stations, networking
technology and card management software. Cyberdyne Gaming is a
provider of a full featured line of gaming products including
extensive offerings in both Class 2 and Class 3 gaming devices.
Cyberdyne is integrating QI SmartKit payment terminals into their
gaming machines and will now offer to the marketplace the next
generation of cashless gaming systems. Similar in concept to Ticket
In / Ticket Out (TITO), the new system uses QI stored value
technology to transfer funds to and from the gaming machines. The
system also offers secure ID features for player tracking, loyalty
and reward programs. Cyberdyne reports strong interest in the smart
card products after recently introducing gaming machines
incorporating QI SmartKit terminals at the Bingo World and the AMOA
conventions in Las Vegas. "Cyberdyne's management and engineering
teams have been technology leaders and innovators in the gaming
industry for 24 years," said Cyberdyne's Phil Lulek. "This
agreement and these products will continue our tradition of
bringing exciting new products and technical innovation to the
industry." Effective immediately QI Systems
(http://www.qisystems.ca/) is appointed as a preferred distributor
of Cyberdyne gaming products for Canada. QI will offer to the
market complete gaming systems of machines incorporating cashless
operation using QI smart card technology. It is further agreed that
in addition to the initial focus on the Canadian market QI shall
also pursue similar opportunities in other markets. QI's CEO Steve
Garman commented: "QI has been actively developing relationships
within the gaming industry and we are extremely pleased to partner
with a company of Cyberdyne's depth. The gaming industry offers
huge opportunities for our cutting edge smart card applications and
with the Cyberdyne relationship we now are able to provide the
industry with a complete suite of gaming devices and payment
technology." "This relationship represents a paradigm shift in the
scope of near term business opportunities available to QI," said
Richard Murray, VP of Business Development at QI Systems.
"Cyberdyne brings to the partnership an established product line
and a wealth of experience in the gaming industry. We are very
excited to be working with them to develop new markets." Further
details will be announced shortly as the companies proceed with
technical integration and with aggressive new sales and marketing
initiatives. QI Systems Inc. designs hardware and software for the
smart card industry, supplying top-to-bottoms applications for a
wide variety of industries. QI Systems Inc. has a high level of
expertise in delivering stored value solutions for specialized
needs. Matters discussed in this press release are "forward-looking
statements" and are subject to certain risks and uncertainties.
Consider all risk factors carefully when evaluating forward looking
statements as actual results may differ materially from those
expressed herein. QI Systems is protected from litigation regarding
forward looking statements and undertakes no obligation to publicly
update such forward-looking statements. The TSX Venture Exchange
does not accept responsibility for the adequacy of this news
release and has not investigated the validity of these claims.
Approved on behalf of the Board Steven R. Garman President &
CEO QI Systems Inc. This release was issued on behalf of the above
organization by Send2Press(TM), a unit of Neotrope(R).
http://www.send2press.com/ DATASOURCE: QI Systems Inc. CONTACT:
Media, Jeff Boltz of Cyberdyne Gaming Inc., +1-623-780-7550, ; or
Corporate, Steve Garman, , or Sales, Rick Murray, , both of QI
Systems Inc., +1-604-248-2301 Web site: http://www.send2press.com/
Web site: http://www.cyberdynegaming.com/ Web site:
http://www.qisystems.ca/
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