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QI Systems and Cyberdyne Gaming Form Strategic Partnership
RICHMOND, BC and PHOENIX, AZ - May 4, 2004 /Send2Press Newswire/ -- Mr. Steven R.
Garman, President and CEO of QI Systems Inc. (TSX: QII.U, OTC BB: QIIIF) of Richmond,
BC, Canada (a leader in smart card solutions), and Mr Phil Lulek, CEO of Cyberdyne
Gaming, Inc. of Phoenix, Arizona (a premier provider of gaming equipment), are
pleased to announce that a multi-part strategic partnership agreement has been signed
by the two companies. The agreement includes provisions for each company to
distribute products of the other partner and is expected to create substantial new
market opportunities for both companies.
Effective immediately Cyberdyne Gaming, Inc. (www.cyberdynegaming.com) is appointed
as a preferred distributor of QI smart card and stored value products for the U.S.
gaming industry. Products included within the distributorship encompass QI stored
value and secure ID chip cards, SmartKit card payment terminals, SmartKit Console
value stations, networking technology and card management software.
Cyberdyne Gaming is a provider of a full featured line of gaming products including
extensive offerings in both Class 2 and Class 3 gaming devices. Cyberdyne is
integrating QI SmartKit payment terminals into their gaming machines and will now
offer to the marketplace the next generation of cashless gaming systems. Similar in
concept to Ticket In / Ticket Out (TITO), the new system uses QI stored value
technology to transfer funds to and from the gaming machines.
The system also offers
secure ID features for player tracking, loyalty and reward programs. Cyberdyne
reports strong interest in the smart card products after recently introducing gaming
machines incorporating QI SmartKit terminals at the Bingo World and the AMOA
conventions in Las Vegas.
"Cyberdyne's management and engineering teams have been technology leaders and
innovators in the gaming industry for 24 years," said Cyberdyne's Phil Lulek. "This
agreement and these products will continue our tradition of bringing exciting new
products and technical innovation to the industry."
Effective immediately QI Systems (www.qisystems.ca) is appointed as a preferred
distributor of Cyberdyne gaming products for Canada. QI will offer to the market
complete gaming systems of machines incorporating cashless operation using QI smart
card technology. It is further agreed that in addition to the initial focus on the
Canadian market QI shall also pursue similar opportunities in other markets.
QI's CEO Steve Garman commented: "QI has been actively developing relationships
within the gaming industry and we are extremely pleased to partner with a company of
Cyberdyne's depth. The gaming industry offers huge opportunities for our cutting
edge smart card applications and with the Cyberdyne relationship we now are able to
provide the industry with a complete suite of gaming devices and payment technology."
"This relationship represents a paradigm shift in the scope of near term business
opportunities available to QI," said Richard Murray, VP of Business Development at QI
Systems. "Cyberdyne brings to the partnership an established product line and a
wealth of experience in the gaming industry. We are very excited to be working with
them to develop new markets."
Further details will be announced shortly as the companies proceed with technical
integration and with aggressive new sales and marketing initiatives.
QI Systems Inc. designs hardware and software for the smart card industry, supplying
top-to-bottoms applications for a wide variety of industries. QI Systems Inc. has a
high level of expertise in delivering stored value solutions for specialized needs.
Previous News from QI Systems Inc.
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