|IMO the big question is what is INTEL going to do with it's remaining VUZIX stock position and how is Recon Instruments doing? INTEL & Kopin have seem to settle on sports as a big area. In a Ironman triathlon you need a swimming leg besides running and cycling. IMO this makes a good case how NIKE could hypothetically enter this space. |
RE-St. George, USA – May 8, 2017 – Recon Instruments, an Intel company, is proud to announce that their Recon Jet smart eyewear for cyclists and runners has been used in professional Ironman triathlon competition this weekend, for the first time. Four-time ITU World Champion Tim Don relied on the Jet smart eyewear to instantly deliver his performance data such as time, distance, pace, heart rate and more while competing in the Ironman 70.3 North American Pro Championships in St. George, Utah on Saturday.
Chinese Billionaire Adds Rock ’n’ Roll Marathons to Growing Ironman Empire
By JOE DRAPEJUNE 2, 2017
Runners at the starting line for the 2015 Rock ’n’ Roll Half Marathon in Brooklyn. Credit Ryan Christopher Jones for The New York Times
Dalian Wanda, the Chinese real estate conglomerate that has spent billions of dollars to command a prominent position in the entertainment industry, is aggressively establishing a beachhead in sports, too.
The company, owned by Wang Jianlin, one of China’s richest people, has added the Rock ’n’ Roll Marathon series to its leisure and lifestyle portfolio by acquiring Competitor Group Inc. and transforming the American-based Ironman company into one of the largest endurance sports organizations in the world.
Since Dalian Wanda bought Ironman in 2015 for $650 million, the company has been on a buying spree in outdoor sports like marathons, road cycling and mountain bike races. The Wanda Sports arm of Dalian Wanda already owns or operates more than 20 running races worldwide, including the Singapore Marathon, the Auckland Marathon and Marathon Bordeaux.
Dalian Wanda also owns part of Atlético Madrid, one of the leading Spanish soccer teams.
The Rock ’n’ Roll Marathon series brings a festive, block-party vibe to competitive running and attracts more than 600,000 athletes a year in eight international races and 22 major markets in the United States.
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“This is an important step in the growth Ironman has seen over the last decade,” said Andrew Messick, Ironman’s chief executive. “As a globally recognized endurance brand, the acquisition of the world’s largest running platform puts us in an exciting position for the future growth of running worldwide.”
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Beginning in 1978 with a triathlon in Hawaii with 15 starters that was won by a taxi driver, Ironman now hosts more than 200 events in 50 countries for more than 400,000 athletes. In recent years, the company has moved into road cycling events, mountain bike races and marathons.
In 2012, Calera Capital bought Competitor Group Inc. and at the time valued the company at nearly $250 million. Messick declined to say how much Ironman paid for the company.
In recent years a surge of acquisitions has made Dalian Wanda the world’s biggest owner of movie theaters, with complexes across the United States, Europe and Australia. In January 2016 it bought Legendary Entertainment for $3.5 billion.
With a population of 1.3 billion people and a rising middle class with an unquenchable thirst for sports, China is a “spectacular” untapped market, Messick said. In 2016, the company held its first two Ironman 70.3 races in China — in Hefei and Xiamen. Last August, the company announced the addition of three Ironman 70.3 triathlons in China in 2017 — Ironman 70.3 Liuzhou, which has already taken place, Ironman 70.3 Qujing, recently rescheduled for Aug. 27, and Ironman 70.3 Chongqing, which is scheduled for Sept. 24.
“We are being ambitious and aggressive to help grow a mass participation sport in China,” Messick said. “We are bullish on the continued emergence of the Chinese consumer. We are convinced that as average income continues to rise and more people move into the middle class, there will be more attention paid to health and recreation.”
Vuzix Appoints Timothy Harned to its Board of Directors
June 19, 2017
ROCHESTER, N.Y., June 19, 2017 /PRNewswire/ -- Vuzix® Corporation (NASDAQ: VUZI), ("Vuzix" or, the "Company"), a leading supplier of Smart Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets, is pleased to announce that Timothy Harned has joined its Board of Directors and Paul Boris, who resigned from the Board on May 8, 2017 when he joined the Company as its Chief Operating Officer, has been re-appointed to the Board of Directors.
Mr. Tim Harned is an investment banking, corporate development, and financial advisory veteran with more than 30 years of experience in mergers & acquisitions and related activities. Mr. Harned is also a technology specialist with more than twenty years of experience in various technology fields and another ten years working with consumer and industrial companies. Mr. Harned is currently the Founder and Managing Partner of 8Nineteen Advisory, LLC ( www.8nineteen.com) where he serves as a strategic consultant and provides financial advisory services, with a specialty in mergers and acquisitions and corporate and business development. He began his career at Lehman Brothers within the mergers and acquisitions group and later joined Banc of America Securities where he became a Managing Director. Mr. Harned subsequently joined Morgan Stanley & Co., where he served as an Executive Director focused on merger and acquisition advisory for technology companies. Mr. Harned also spent more than five years with Capstone Partners LLC as a Managing Director before joining AGC Partners, where he was a Partner for more than six years.
"As Vuzix business relationships continue to expand, the importance of adding a trusted advisor with experience in strategy, M&A, and general business transactions to our Board is very valuable, and we are delighted to have identified such an outstanding individual to help serve our stockholders. We are confident that Tim will have a positive impact on our Company," said Paul Travers, President and CEO of Vuzix.
About Vuzix Corporation
Vuzix is a leading supplier of Smart-Glasses, Augmented Reality (AR) and Virtual Reality (VR) technologies and products for the consumer and enterprise markets. The Company's products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 51 patents and 39 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2017 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to applicability and benefits of Mr. Harned's prior experience to Vuzix, and among other things, the Company's leadership in the Video Eyewear, VR and AR display industry. They are generally identified by words such as "believes," "may," "expects," "anticipates," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.
Media and Investor Relations Contact:
Matt Margolis, Director of Corporate Communications and Investor Relations, Vuzix Corporation firstname.lastname@example.org Tel: (585) 359-5952
Andrew Haag, Managing Partner, IRTH Communications
email@example.com Tel: (866) 976-4784
Vuzix Corporation, 25 Hendrix Road, Suite A, West Henrietta, NY 14586 USA,
Investor Information – IR@vuzix.com www.vuzix.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vuzix-appoints-timothy-harned-to-its-board-of-directors-300475821.html
SOURCE Vuzix Corporation
Released June 19, 2017