|By Marketwired .||
|February 3, 2014 05:00 AM EST||
TEL AVIV, ISRAEL -- (Marketwired) -- 02/03/14 -- Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO), a leading innovator in augmented reality technology, developing software applications for future wearable and augmented reality devices, such as: Google Glass, Meta, Smartphones, Tablets and Smart TVs, announced today two new executive appointments that strengthen the company's strategic, marketing and technical operations.
Infinity AR through its subsidiary Infinity Augmented Reality Israel Ltd. ("Infinity Israel") is expanding its executive roster with the hiring of Motti Kushnir as Chief Operating Officer. Kushnir brings years of marketing, product development and business experience in the high-tech sector. He studied and received his MBA from the Hebrew University of Jerusalem. Kushnir has managerial professional experience from his years serving as Chief Marketing & Product Officer at Telmap Ltd., VP at Amdocs Ltd., and AVP of Marketing for the Mobile Internet Solutions Division at Comverse and as a Director at Motorola.
Additionally, Infinity Israel has appointed Dr. Matan Protter to serve as Chief Technology Officer to oversee ongoing product development and technology roadmap. Mr. Protter received a bachelor's degree from the Hebrew University of Jerusalem, and received his master's and PhD from the Technion Israel Institute of Technology in Haifa where he researched image processing and computer vision. He worked in the Image Processing Group at Rafael Ltd., and served as a co-founder and CTO of BetterView Advanced Video Solutions Ltd. and is currently the computer vision director at Mobli.
"We are delighted to include two seasoned executives such as Motti and Matan to the Infinity AR team," said Infinity AR's CEO Enon Landenberg. "They both bring a wealth of pertinent experience to their roles. These new appointments reflect our commitment to meeting the highest standards of professionalism, quality and experience. We know their contributions will be invaluable as we forge ahead to our next stage of aggressive growth and product development."
Infinity AR recently added Professor Steve Mann, "The Father of Wearable Computers," to its advisory board. Professor Mann's digital eyeglass invented in 1980 is on exhibit with Google Glass, invented in 2013, at the "History of AR Vision" exhibit at the 2013 Augmented World Expo. This week the New York Times reported that Google struck a deal with the nation's largest optical health provider to offer subsidized frames and prescription lenses for Google Glass. The company VSP (Virtuoso Scripting Pages) provides eye and vision benefits to more than 60 million members and opens the door between health care and consumer technology. Matthew Alpert chairman of optometric innovations for VSP Global said, "Google Glass is one of the most exciting optical related technologies brought to consumers in the last decade." Infinity AR is uniquely positioned to provide innovative platforms for this mass-market product.
About Augmented Reality
Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.
Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user's spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website, www.infinityar.com.
Safe Harbor Forward-Looking Statements
Some statements in this release may be "forward-looking statements" for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.
Infinity Augmented Reality, Inc.
President and Chief Executive Officer
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