Moving iMage Technologies Named Global Cinema Distributor by LEA Professional

Rhea-AI Summary

Moving iMage Technologies (NYSE American: MITQ) has partnered with LEA Professional to distribute LEA's 'smart' power amplifiers to the global cinema market. This collaboration aims to provide innovative audio technology during a technology refresh cycle in the industry. MiT gains global distribution rights for various cinema applications, backed by LEA's 6-year warranty and technical support. The partnership seeks to enhance market penetration beyond North America, leveraging LEA's advanced amplifier systems for improved audio performance.

Positive

• Partnership expands MiT's distribution capabilities in the global cinema market.
• LEA's amplifiers offer high-quality audio performance and a 6-year warranty, enhancing customer confidence.

Negative

• None.

Companies partner to bring LEA ‘Smart’ Power Amplifiers to the Global Cinema Market

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)-- Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading cinema technology company, and LEA Professional (“LEA”), a global manufacturer of industry-first, pro-audio amplifiers with cloud- and IoT-based technologies, today announced a partnership to distribute LEA’s line of “smart” power amplifiers to the global cinema market.

“This partnership brings together two leading, entrepreneurial companies to provide LEA’s best-in-class audio technology to the cinema market,” said Joe Delgado, executive vice president, sales and marketing. “LEA’s line of IoT/Cloud-enabled Professional-grade ‘smart’ amplifiers and associated technologies are known for reliability, quality and product availability. Combined with MiT’s experience in cinema, this partnership presents a significant opportunity for both companies to expand their market opportunity. In addition, this relationship is especially timely given that the global cinema market is in a technology refresh cycle.”

“We are excited to partner with a leading company like MiT to help expand our business deeper into the global cinema market,” said Scott Robbins, vice president of global sales for LEA Professional. “MiT’s decades of experience in cinema is a great match for LEA. Our ‘smart’ amplifier systems are known for easy connectivity, onboard digital signal processing, high output and elevated audio performance that bring high-impact immersive sound experiences to movie audiences and a higher ROI to exhibitors. We believe MiT’s experience understanding exhibitors' requirements will help to communicate LEA’s value proposition to the cinema market.”

MiT will have global distribution rights for the cinema market, including studios, high-end home theaters and post-production facility applications that utilize Digital Cinema Initiatives (DCI) displays, projectors and servers. Additionally, LEA amplifiers are backed by a US-based world-class Professional Audio engineering team, online and technical resources, as well as an industry-leading 6-year warranty, providing exhibitors with peace of mind while reinforcing LEA's confidence in their quality and customer satisfaction.

Delgado concluded, “This partnership enhances our strategy to enter new markets outside North America. By adding LEA’s power amplifiers to our current and future line of products and services that we believe have the potential to penetrate global markets.”

About Moving iMage Technologies

MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading technology, products, and services provider to the Motion Picture Exhibition industry with emerging opportunities in eSports and sports venues. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. For more information, visit www.movingimagetech.com.

About LEA Professional

Headquartered in South Bend, Indiana, LEA Professional was founded to provide dealer/integrators in the professional AV market with the highest-performing, best-connected amplifier technology possible. Privately held, LEA Professional is led by industry veterans with proven capabilities in the executive, engineering, and channel aspects of professional AV. The company was founded in 2019 and is organized to be a major force in professional AV. Visit leaprofessional.com to learn more and follow LEA at facebook.com/leaprofessional, twitter.com/leaprofessional, Instagram.com/lea_professional, and linkedin.com/company/lea-professional.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230110005011/en/

Moving iMage Technologies Investor Relations and Media Contacts:

Brian Siegel, IRC®, M.B.A.

Senior Managing Director

Hayden IR

(346) 396-8696

brian@haydenir.com

LEA Professional Media Contact:

Eva Murphy Ryan

Brand Definition

eva@brand-definition.com

503-412-9985

Source: Moving iMage Technologies

FAQ

What is the significance of the partnership between MITQ and LEA Professional?

The partnership enables Moving iMage Technologies to distribute LEA's smart power amplifiers globally, enhancing audio technology in the cinema market.

What products will MITQ distribute as a result of the partnership with LEA?

MITQ will distribute LEA's IoT/Cloud-enabled smart power amplifiers for cinema applications, including studios and high-end home theaters.

How does the partnership benefit Moving iMage Technologies?

The partnership allows MITQ to expand its market reach outside North America and enhance its product offerings with advanced audio technology.

What warranty does LEA Professional provide for their amplifiers?

LEA Professional offers a 6-year warranty on their power amplifiers, ensuring customer satisfaction and product reliability.