QUAN Signs LOI to Give $40 Billion Tablet Market a Facelift
HOUSTON--(BUSINESS WIRE)-- Quantum International Corp. (OTCBB: QUAN), a growing technology company, announced today that the company signed a Letter of Intent with A Plus Technologies to begin producing a new line of electronic lifestyle enhancement technologies, including accessories for popular gadgets like the Apple (NAS: AAPL) iPad.
According to the LOI, Quantum and A Plus Technologies will evaluate entering into a definitive agreement for the development and delivery of new electronic products. A Plus's first challenge will be to produce a working prototype of Quantum's advanced, all-in-one accessory for the Apple iPad. The company plans to capitalize on the iPad's unprecedented global popularity by engineering a case capable of enhancing the popular tablet in a number of significant ways, from the addition of external storage capabilities to a boost in battery life.
"We're very pleased by the prospect of working with A Plus Technologies on this project, and we can't wait to see the results," said Quantum CEO Robert Federowicz. "We're in the midst of our due diligence process now, but we anticipate moving forward on a definitive agreement with A Plus soon in order to get the line of incredible products that we've envisioned into the marketplace as quickly as we can."
That's because the market for iPad accessories is massive and growing fast. Currently, there are more than 117 million iPad owners worldwide, and the market for accessories is worth $2.3 billion and climbing. That's the growth that Quantum plans to tap into with its new product.
For more information on Quantum International's technology initiatives, please visit www.quantuminnovators.com/investors.html.
Quantum International Corp. is working to develop the next generation of mobile and automation technologies to compete in a booming global industry alongside Intuitive Surgical, Inc. (NasdaqGS: ISRG), iRobot Corporation (NasdaqGS: IRBT) and Dover Corp. (NYS: DOV) .
Follow us on Twitter at www.twitter.com/QuantumIntlCorp.
About Quantum International Corp.
Quantum International Corp. (OTCBB: QUAN) is a robotics innovation company working to commercialize the next generation of sophisticated, automated technology. The Company is positioning itself to develop, deliver and market the most cutting-edge innovations in robotics in order to leverage the worldwide demand for the precision, speed, and cost-effectiveness these technologies offer.
For more information about Quantum International Corp., please visit www.quantuminnovators.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Quantum International Corp.
Robert Federowicz, 832-308-1260
President and CEO
KEYWORDS: United States North America Texas
The article QUAN Signs LOI to Give $40 Billion Tablet Market a Facelift originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.