Press Release
QSound Labs and iLab America Form Strategic Partnership
QSound’s QSurround® 7.1 Technology To Be Incorporated Into iLAB’s Turn-Key Solution for Consumer Electronics OEMs
CALGARY, CANADA - November 26, 2002 - QSound Labs, Inc. (NASDAQ: QSND), a
leading supplier of audio software solutions, and iLAB America, a leader
in digital audio product designs, today announced that they have joined
forces to offer QSound’s QSurround technology in a new “off-the-shelf”
production board designed and developed by iLAB. This collaboration will
be the first to offer QSound’s new QSurround 7.1 technology to Consumer
Electronics OEMs and will be available in the 1st quarter of 2003.
“Offering a turn-key solution significantly reduces an OEMs time to
market, helping them keep their competitive edge,” said Wayne Boyle,
President and CEO, iLAB America. “Having previously worked with QSound, we
are well aware of the quality of their audio technology and the
considerable talents of their engineers. Moving forward to form a
partnership and offering a product based on our board design and QSound’s
superior audio technology was, in our view, the next logical step.”
At the heart of the QSurround 7.1 technology is QSound’s Multi-Speaker
Surround Synthesis technology (QMSS), a stereo-to-surround synthesis
algorithm that creates stunning surround effects with distinctly different
outputs for 4, 5.1 6.1, or 7.1 full-range speakers, including a discrete
subwoofer channel. QMSS has been featured in numerous consumer electronics
products, including the critically acclaimed Acoustic Edge™ Sound card
from Philips.
"QSound's continued relationship with iLABs will give OEMs unmatched
technology that transforms ordinary stereo music, games and movies to true
surround-sound mediums,” stated David Gallagher, President and CEO, QSound
Labs. “We are anticipating many positive results from this partnership,
and are looking forward to seeing the evolution and advances made in the
surround-sound industry.”
About iLAB America
Founded in 1998, iLAB America, short for Integration Laboratories,
develops state of the art Multiroom and Home Theater integration products
for many of the A/V industry's most respected brands. ILAB America
specializes in the design and development of Digital audio products such
as Dolby Digital, DTS and virtual surround sound processors. With complete
ISO 9002 certified production and test services, iLAB America greatly
simplifies and speeds the process of reaching the market for OEM's by
providing a complete design to production solution through a single
source. With manufacturing based in China, iLAB America’s competitive
pricing can offer significant marketing advantages while maintaining the
ease of communicating directly with its US-based office. For more
information, visit our website at www.ilabamerica.com.
This release contains
forward-looking statements within the meaning of the Private Securities
Litigation Act of 1995 concerning, among other things, availability of
production boards in the first quarter of 2003. Investors are cautioned
that such forward-looking statements involve risk and uncertainties, which
could cause actual results, performance or achievements of the Company, or
industry results to differ materially from those reflected in the
forward-looking statements. Such risks and uncertainties include, but are
not limited to, risks associated with dependence upon iLabs' use of QSound
technology, consumer acceptance of the Company’s products, the Company’s
ability to carry out its business strategy and marketing plans, including
availability of sufficient resources for the Company to do so timely and
cost effectively, dependence on intellectual property, rapid technological
change and competition, and other risks detailed from time to time in the
Company’s periodic reports filed with the Securities and Exchange
Commission. Forward-looking statements are based on the current
expectations, projections and opinions of the Company’s management, and
the Company undertakes no obligation to publicly release the results of
any revisions to such forward-looking statements which may be made, for
example to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.