Moving iMage Technologies (MiT) and Alamo Drafthouse Cinemas Announce Three-Year Exclusive Purchase Agreement for Barco SP4k Projectors

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Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading digital cinema technology company, today announced an exclusive three-year purchase agreement with Alamo Drafhouse Cinemas for Barco SP4k laser projectors for both new theaters and existing technology upgrades.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, July 12, 2022
Information
Tags: 
Entertainment, Retail, Restaurant, Bar, Other Entertainment, Technology, Film & Motion Pictures, Audio, Video, Technology, Battle of the Alamo, SEC, FF&E, Software as a service, Caddy, FF, Alamo Drafthouse Cinema, Company, OEM, Policy, Centre for Development of Imaging Technology, Risk, Forward-looking statement, Sport, NYSE, Industry, Television
Geotags: 
UNITED STATES, NORTH AMERICA, CALIFORNIA, TEXAS, MASSACHUSETTS, BARCO
⚠ generated by AI ↴
Organisation: 
MOVING IMAGE TECHNOLOGIES, ALAMO DRAFTHOUSE CINEMAS
Stock Symbol: 
NYSEAM:MITQ
Summary
Key Points: 
  • Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading digital cinema technology company, today announced an exclusive three-year purchase agreement with Alamo Drafhouse Cinemas for Barco SP4k laser projectors for both new theaters and existing technology upgrades.
  • These projector upgrades also come with lamp and power operational savings that will benefit Alamo for many years to come.
  • The Barco Active Image Management includes patented technology to guarantee sharp, consistent image quality over time.
  • MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry.


Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading digital cinema technology company, today announced an exclusive three-year purchase agreement with Alamo Drafhouse Cinemas for Barco SP4k laser projectors for both new theaters and existing technology upgrades.

“We are excited to announce this exclusive relationship with Alamo Drafthouse, one of our long-standing partners,” said Jerry Van de Rydt, senior vice president of FF&E sales at MiT. “The industry is in the early stages of a multi-year technology upgrade cycle, and the Barco SP4k laser projector is a great way to enhance the moviegoer experience through its improved picture contrast, maximum picture brightness and vivid colors, all of which are on-screen benefits of Barco technology.”

“Alamo is excited about this next generation of 4k laser projection technology to bring our guests the very best presentations available,” said Frankie Vaquerano, director of presentation for Alamo Drafthouse Cinema. “These projector upgrades also come with lamp and power operational savings that will benefit Alamo for many years to come.”

The SP4k models of the Barco Series 4 family bring native 4K resolution, higher contrast and enhanced uniformity into the movie theater. The Barco Active Image Management™ includes patented technology to guarantee sharp, consistent image quality over time.

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 in the process of 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.

About Alamo Drafthouse Cinemas

The Alamo Drafthouse Cinema is an American cinema chain founded in 1997 in Austin, Texas, which is famous for serving dinner and drinks during the movie, as well as its strict policy of requiring its audiences to maintain proper cinema-going etiquette.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including, but not limited to, the timing of the opening of the Alamo Drafthouse Cinema location. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including the timing of the opening of the new theater, potential project delays or cancellations and those set forth in the Risk Factors section of the Company's registration statement and preliminary prospectus for the Company's offering filed with the SEC. Copies of these documents are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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