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QSC Announces Divestiture of its USL Accessibility Line of Products to Moving iMage Technologies
Costa Mesa, Calif. (April 22, 2022) – QSC and Moving iMage Technologies (MiT) (NYSE American: MITQ), a leading digital cinema technology company, today announced an agreement in which MiT will assume manufacturing, sales, distribution and servicing of the USL Accessibility line of products from QSC. As of April, 22, 2022, QSC is no longer accepting new purchase orders for these products and will work with customers on a case-by-case basis to make deliveries of existing orders by May 13, 2022. For orders not been fulfilled by May 13, QSC and MiT will work together to ensure a successful transition for customers.
“As cinemas evolve to multipurpose, multi-venue entertainment centers, there is a need to take a holistic view of the audio, video and control needs of each site,” says Jatan Shah, President and Chief Operating Officer, QSC. “Since the Q-SYS Platform offers this capability and more, our business strategy has also evolved to consider the whole technology ecosystem for today’s cinema. MiT assuming the USL Accessibility products line will enable QSC to focus on delivering the Q-SYS Platform solution and work with other suppliers as technology partners to better serve the changing needs of our customers.”
“Acquiring this technology reinforces MiT’s commitment to enabling a whole host of underserved communities to enjoy the moviegoing experience,” said Joe Delgado, Executive Vice President of Sales and Marketing at MiT. “In conjunction with the soon-to-be-released MiTranslator, which will allow non-English proficient moviegoers to enjoy the cinema in their native language, adding the QSC USL line of accessibility products and services eliminates barriers for the hearing and vision impaired. Additionally, providing these valuable tools to our exhibition partners will only add to their success in reaching out to previously untapped markets.”
“Over the years, MiT has proven itself as a valued QSC sales partner,” says Barry Ferrell, Senior Director of Cinema Product Development, QSC. “We’re confident that MiT is the right fit to continue providing this very important accessibility technology to moviegoers.”
QSC accessibility products include infrared-based assistive listening and closed caption devices for cinema patrons. Since 2018, movie theatres in the U.S. are required to make assistive listening and closed captioning equipment available for patrons, as mandated by Title III of the Americans with Disabilities Act. QSC first began offering these products in 2017 after acquiring Ultra-Stereo Labs (USL), a leading supplier of assistive listening technologies for cinemas.
About QSC
Founded over five decades ago, QSC is a globally-recognized leader in the design, engineering and manufacture of award-winning, high-performance loudspeakers, digital mixers, power amplifiers, audio processors, digital cinema solutions, and the Q-SYS™ cloud-manageable audio, video and control Platform. Offering reliable, scalable and flexible solutions for entertainment, collaboration and commercial AV applications, our worldwide network of sales, service and support teams empowers people everywhere to create impactful connections and memorable experiences.
About Moving iMage Technologies
MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. Based in Fountain Valley California, our 28,000 sq. ft. facility is home to our corporate offices, engineering & manufacturing, distribution, integration, and service and support divisions. Our strategic location is augmented by a global network of service partners & OEM manufacturers. For more information, visit www.movingimagetech.com.
For More Information
QSC Press Contact:
Kristine Fowler | Digital Marketing Manager
714.624.4527 | Email: Kristine.fowler@qsc.com | qsc.com
Moving iMage Technologies Investor Relations and Media Contacts:
Brian Siegel, IRC®, M.B.A. | Senior Managing Director
Hayden IR | (346) 396-8696 | Email: brian@haydenir.com
QSC Announces Divestiture of its USL Accessibility Line of Products to Moving iMage Technologies
Costa Mesa, Calif. (April 22, 2022) – QSC and Moving iMage Technologies (MiT) (NYSE American: MITQ), a leading digital cinema technology company, today announced an agreement in which MiT will assume manufacturing, sales, distribution and servicing of the USL Accessibility line of products from QSC. As of April, 22, 2022, QSC is no longer accepting new purchase orders for these products and will work with customers on a case-by-case basis to make deliveries of existing orders by May 13, 2022. For orders not been fulfilled by May 13, QSC and MiT will work together to ensure a successful transition for customers.
“As cinemas evolve to multipurpose, multi-venue entertainment centers, there is a need to take a holistic view of the audio, video and control needs of each site,” says Jatan Shah, President and Chief Operating Officer, QSC. “Since the Q-SYS Platform offers this capability and more, our business strategy has also evolved to consider the whole technology ecosystem for today’s cinema. MiT assuming the USL Accessibility products line will enable QSC to focus on delivering the Q-SYS Platform solution and work with other suppliers as technology partners to better serve the changing needs of our customers.”
“Acquiring this technology reinforces MiT’s commitment to enabling a whole host of underserved communities to enjoy the moviegoing experience,” said Joe Delgado, Executive Vice President of Sales and Marketing at MiT. “In conjunction with the soon-to-be-released MiTranslator, which will allow non-English proficient moviegoers to enjoy the cinema in their native language, adding the QSC USL line of accessibility products and services eliminates barriers for the hearing and vision impaired. Additionally, providing these valuable tools to our exhibition partners will only add to their success in reaching out to previously untapped markets.”
“Over the years, MiT has proven itself as a valued QSC sales partner,” says Barry Ferrell, Senior Director of Cinema Product Development, QSC. “We’re confident that MiT is the right fit to continue providing this very important accessibility technology to moviegoers.”
QSC accessibility products include infrared-based assistive listening and closed caption devices for cinema patrons. Since 2018, movie theatres in the U.S. are required to make assistive listening and closed captioning equipment available for patrons, as mandated by Title III of the Americans with Disabilities Act. QSC first began offering these products in 2017 after acquiring Ultra-Stereo Labs (USL), a leading supplier of assistive listening technologies for cinemas.
About QSC
Founded over five decades ago, QSC is a globally-recognized leader in the design, engineering and manufacture of award-winning, high-performance loudspeakers, digital mixers, power amplifiers, audio processors, digital cinema solutions, and the Q-SYS™ cloud-manageable audio, video and control Platform. Offering reliable, scalable and flexible solutions for entertainment, collaboration and commercial AV applications, our worldwide network of sales, service and support teams empowers people everywhere to create impactful connections and memorable experiences.
About Moving iMage Technologies
MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. Based in Fountain Valley California, our 28,000 sq. ft. facility is home to our corporate offices, engineering & manufacturing, distribution, integration, and service and support divisions. Our strategic location is augmented by a global network of service partners & OEM manufacturers. For more information, visit www.movingimagetech.com.
For More Information
QSC Press Contact:
Kristine Fowler | Digital Marketing Manager
714.624.4527 | Email: Kristine.fowler@qsc.com | qsc.com
Moving iMage Technologies Investor Relations and Media Contacts:
Brian Siegel, IRC®, M.B.A. | Senior Managing Director
Hayden IR | (346) 396-8696 | Email: brian@haydenir.com