CHATSWORTH, Calif., Nov. 16, 2017 (GLOBE NEWSWIRE) -- Provision Interactive Technologies, Inc. ("Provision"), a subsidiary of Provision Holding, Inc. (OTCQB:PVHO), announced today that it has signed an agreement with Coinstar ®, LLC (“Coinstar”), to integrate Provision’s proprietary 3D holographic display and point-of-sale (POS) coupon platforms into Coinstar’s kiosks.
With 17,000 locations in major retailers across the U.S., the partnership will enable Coinstar to offer its customers in-store savings on consumer products with coupons offered through the kiosks’ touchscreen system. In addition, the kiosks will include Provision’s patented and award winning 3D holographic product that will project advertiser messages from the top of the structure, creating new revenue opportunities for Coinstar and its retail partners.
“Our partnership provides an incredibly valuable platform for advertisers that want to leverage Coinstar’s footprint at grocers and big-box retailers nationwide to drive increased in-store purchases,” said Provision President and CEO Mark Leonard.
Provision and Coinstar aim to roll out the technology on 300 kiosks before the end of the year.
Mr. Leonard continued, “This agreement represents a pivotal milestone for our company and validates the applicability of our technology across new retail settings. We look forward to working with Coinstar to roll out these expanded product offerings to a national customer base, which we view as a transformational growth opportunity for Provision and its shareholders.”
A recent study by Provision found that its 3D Savings Center provided a maximum rate of coupon redemption as high as 44 percent, which far exceeds the published national average coupon redemption rate of one-to-two percent.
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About Provision Interactive Technologies, Inc.
Provision Interactive Technologies, Inc., a subsidiary of Provision Holding, Inc. (OTCQB:PVHO), is the leading developer of intelligent, interactive 3D holographic display technologies, software, and integrated solutions used primarily in retail settings. Provision’s 3D advertising displays are designed to increase in-store engagement, coupon redemption and point-of-purchase activity.
Provision's 3D holographic display systems represent a revolutionary technology that project full color, high-resolution videos into space detached from the screen, without the need for special glasses. Provision holds more than 10 patents related to its 3D holographic technology, for both consumer and commercial applications.
For more information, visit www.provision.tv.
Forward-Looking Statements
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements unless legally required.
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