Visualization firms invest in TeraRecon

June 28, 2004

Fujifilm and Pentax have invested millions of dollars in TeraRecon as part of strategic alliance agreements that call for the image processing pioneer to collaborate on new product and technology development. Fujifilm of Tokyo, Japan, finalized its deal

Fujifilm and Pentax have invested millions of dollars in TeraRecon as part of strategic alliance agreements that call for the image processing pioneer to collaborate on new product and technology development. Fujifilm of Tokyo, Japan, finalized its deal in March; Pentax signed its agreement in May. Both agreements were announced earlier this month. Fujifilm paid $4.95 million to acquire 300,000 shares of newly issued series G preferred stock, representing a 1.92% equity stake in TeraRecon. Under the terms of the alliance, TeraRecon will apply its signal and image processing technologies to new product and technology development at Fuji. Pentax paid $5.67 million to acquire 341,000 shares of newly issued series G preferred stock, representing 2.18% of issued equity. In return, Pentax has the right to include TeraRecon technology in products such as those involving optical endoscopic imaging and consumer electronics digital camera applications.