Strategic Investment Aligns Mitsui Comtek's Display and Consumer IT Technology Investments with an Avenue to Market
Scottsdale, Ariz. and Cupertino, Calif., Feb. 28, 2006 - NűVision U.S., Inc. (nuvision.com), a Scottsdale -based marketer of high performance Deep Black™ LCD televisions, is proud to announce that it has received equity funding from Mitsui Comtek Corp. In addition, Mitsui Comtek has agreed that it will provide strategic planning and development assistance to NűVision.
"We are extremely pleased to align ourselves with such a highly respected and successful partner as Mitsui, who has an exceptional history and is Japan's largest multinational trading firm," said Scott Deley, NűVision president & CEO.
Mitsui has taken a leadership role in developing and marketing a variety of high technology products and services. From this vision and mission, Mitsui Comtek was founded in 1986 by Mitsui & Co., Ltd. as the strategic subsidiary for IT & Electronics business in U.S. market. Mitsui Comtek has been very active in enabling advanced display technologies to be launched into the consumer IT and CE markets through various strategic partnerships. Mitsui Comtek has been an early investor in a wide range of technology companies such as Gateway 2000, Nanosolar, and SiRF.
"NűVision has been successful during the first year of its existence developing and marketing its initial LCD product line," said David Kaltsas, Mitsui Comtek's General Manager. "More importantly, NuVision has created a solid branding platform and an attractive business strategy targeting the AV Specialty/CEDIA segment, which we believe has great long term potential to thrive in today's exploding HDTV marketplace. Mitsui intends to assist NűVision to gain greater market share with the right strategic alliances and business development assistance. We expect to help further NűVision's initiatives well into the future."
Added Deley, "NűVision is excited about the opportunity for this investment funding and the ability to leverage the Mitsui global network, enabling us to access exciting new technologies and products in a manner not normally available to start -up companies. This dramatically accelerates our market potential."
Aimed at the discerning consumer who expects great performance, customer service, and sleek cosmetics, NűVision targets the CEDIA custom install channel and high -end A/V specialty retailers who demand high performance from the manufacturer as well as the products they sell. The NűVision brand and products are promoted and sold through select dealers nationwide.
For more information on NuVision, visit www.nuvision.com or call 480.970.1466.