Perth based security technology firm QRSciences Ltd will be the sole distributor of SentryScope, a high-tech video surveillance system, under a new agreement with its manufacturers, Spectrum San Diego.
Perth based security technology firm QRSciences Ltd will be the sole distributor of SentryScope, a high-tech video surveillance system, under a new agreement with its manufacturers, Spectrum San Diego.
QRS will have distribution rights in Australia, New Zealand, Japan, Taiwan and India, as well as non-exclusive rights to sell and distribute the equipment to the U.S. Federal Government, including key customers at the U.S. Department of Defence and Department of Homeland Security.
It will be the among the first tests for recent QRS acquisition Baxall Australia, which QRS expects will provide the company with an accessible customer base.
In an announcement to the stock exchange, QRSciences chief executive Kevin Russeth stated: "QRS is in the process of developing its sales and distribution business. As part of this business we are very pleased to bring this innovative and complimentary technology into our product range. SentryScope is readily marketable to the existing customer base of Baxall Australia, the organisation we are in the process of acquiring, and has strong growth potential particularly with U.S. Federal customers."
In February 2006 QRS entered into an agreement to invest up to US$2.6 million in cash and scrip to acquire a strategic investment of up to 27.2% in Spectrum San Diego. QRS now own 16.55% of Spectrum, and retains an option to acquire all outstanding shares until 2009.
The full statement is pasted below
4 July, 2006 Perth, Western Australia: QRSciences (QRS:ASX) (QRSHY:PK) announced today that it
has completed an agreement with Spectrum San Diego (Spectrum) to sell and distribute the
SentryScopeTM video surveillance system to U.S. government markets and to a number of territories
including Australia and New Zealand.
Under the agreement QRSciences (QRS) will be the exclusive distributor of SentryScopeTM equipment in
Australia, New Zealand, Japan, Taiwan and India. In addition QRS acquires non-exclusive rights to sell
and distribute the equipment to the U.S. Federal Government including key customers at the U.S.
Department of Defence and Department of Homeland Security.
SentryScopeTM is a unique video surveillance system using proprietary advanced linescan technology
developed by Spectrum. The device is able to produce 90 degree panoramic digital video at resolutions
of up to 21 million pixels per frame. This allows wide areas such as street scenes, car parks, railway
station concourses, casinos, prisons, ports and the perimeter of secure or high risk facilities to be
comprehensively monitored with sufficient resolution to digitally zoom in to sub-regions while retaining
fine detail. To date the SentryScopeTM has generated approximately $ 2m in sales to government and
commercial customers in Europe, the U.S. and Australia.
QRS will also obtain rights to SentryChromaTM a new colour SentryScopeTM option from Spectrum that, in
response to customer requests, adds megapixel colour video overlay to the ultra high resolution
monochrome SentryScopeTM camera. The SentryChromaTM colour capability is expected to significantly
increase the total addressable market for SentryScopeTM products.
QRSciences CEO Mr. Kevin Russeth stated: "QRS is in the process of developing its sales and
distribution business. As part of this business we are very pleased to bring this innovative and
complimentary technology into our product range. SentryScopeTM is readily marketable to the existing
customer base of Baxall Australia, the organization we are in the process of acquiring, and has strong
growth potential particularly with U.S. Federal customers."
In February 2006 QRS entered into an agreement to invest up to US$2.6 million in cash and scrip to
acquire a strategic investment of up to 27.2% in Spectrum San Diego. QRS now own 16.55% of
Spectrum. QRS retains an option to acquire all the outstanding shares in Spectrum until 2009.
