NuVision Receives New Equity Funding

Mitsui Comtek will provide strategic planning and development assistance.
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Scottsdale, AZ and Cupertino, CA--NuVision U.S. Inc. has received equity funding from Mitsui Comtek Corp. In addition, Mitsui Comtek has agreed that it will provide strategic planning and development assistance to NuVision.

"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, NuVision president and 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 the 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.

"NuVision 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 NuVision to gain greater market share with the right strategic alliances and business development assistance. We expect to help further NuVision's initiatives well into the future."

Added Deley, "NuVision 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, NuVision 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 NuVision brand and products are promoted and sold through select dealers nationwide.

For more information, visit www.nuvision.com.

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