Sentry Technology Signs LOI With Orions Digital
15 March 2011 - 11:00PM
Marketwired
Sentry Technology Corporation (PINKSHEETS: SKVY) announced today
the signing of a Letter Of Intent with Orions Digital Technologies.
Under the agreement, Orions will develop a computer vision
enhancement to Sentry's OperationalVideo™ software application to
perform automated audits of merchandise, pricing and product
displays in retail stores. Using video analytics, Orions' advanced
technology will automatically compare reference images with
real-time images captured using the SentryVision® traveling camera
system as well as conventional IP cameras. Orions' technology will
also optimize the streaming of high definition images for delivery
to various users within a large retail enterprise.
Sentry is nearing the completion of the development of its
VideoRailway™, an entirely new traveling camera system.
VideoRailway™ is smaller and lighter than Sentry's current system
and will allow the camera carriage to travel along curves and
around corners. Enhanced features include IP and HD camera options
to deliver the high quality images needed for the digital audit
process. The ability to negotiate curves and corners, along with
full camera pan, tilt and zoom control, provides camera positioning
at the precise angle needed to capture important audit information
such as product pricing.
Current in-store product auditing is an expensive, labor
intensive process performed by individuals physically traveling to
store locations to confirm display and pricing matches corporate
plans. Sentry's OperationalVideo™ system with digital audits will
automatically deliver immediate online confirmation that store
displays meet merchandising, advertising and pricing requirements.
The system includes an exception-reporting module enabling
management to take immediate action at non-compliant stores.
"Orions Digital is very pleased to have forged a technology
partnership with Sentry to augment their OperationalVideo™
technology with our computer vision and video analytics. We believe
that this collaboration will offer retailers advanced, real-time
audits of their in-store merchandise, displays and more," said
Melissa Allensworth, CEO of Orions Digital Technologies.
"We are very pleased to be working with Orions Digital," said
Peter L. Murdoch, President and CEO of Sentry Technology
Corporation. "Orions has the expertise needed to take
OperationVideo™ to the next level. The store audit business is a
billion dollar industry world wide and we believe that
OperationalVideo™ will capture a share of that recurring revenue by
delivering retailers a less expensive, timely and more efficient
solution."
About Orions Digital Technologies: The
company offers a next generation open content ecosystems that
optimizes not only the cross-platform delivery of high definition
streaming, but also the enjoyment and repurposing of this video.
The new platform is a powerful leap forward for consumers wanting
highly relevant rich content delivered over IP when and where they
choose. It's also a powerful opportunity for content providers
seeking new ways to monetize existing and new content. More
information can be found at www.orionsdigital.com.
About Sentry Technology Corporation:
Sentry designs, manufactures, sells and installs Closed Circuit
Television (CCTV) solutions, Electro-Magnetic (EM) and RFID based
Library security and self-service systems. Our CCTV product line
features SentryVision®, SmartTrack™, a proprietary, patented
traveling Surveillance System. Our OperationalVideo™, OVportal™
software application assists retailers with on-line management of
safety and security, merchandising audits and employee procedure
compliance. Products are used by libraries to secure inventory and
improve operating efficiency, by retailers to deter theft and
enhance productivity, and by industrial/institutional customers to protect assets and people.
More information can be found at www.sentrytechnology.com.
This press release may include information that could constitute
forward-looking statements made pursuant to the safe harbor
provision of the Private Securities Litigation Reform Act of 1995.
Any such forward-looking statements may involve risk and
uncertainties that could cause actual results to differ materially
from any future results encompassed within the forward-looking
statements. Factors that could cause or contribute to such
differences include those matters disclosed in the Company's
Securities and Exchange Commission filings.
CONTACT: Peter L. Murdoch President & CEO (631) 739-2100
Sentry Technology (CE) (USOTC:SKVY)
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