Moving iMage Technologies Acquires Assets Of Digital Cinema Speaker Series Loudspeaker Product Line From QSC; Terms Undisclosed

Moving iMage Technologies, Inc. (NYSE:MITQ) ("MiT"), a leading provider of cutting-edge out-of-home entertainment technology and services for cinema, Esports, stadiums and arenas, has acquired the assets of the globally recognized Digital Cinema Speaker Series (DCS) loudspeaker product line from QSC. Launched over twenty years ago, DCS is a premium line of cinema loudspeakers, purpose-built for a wide range of cinema use cases, from the biggest premium large format (PLF) multiplex auditoriums to smaller venues, boutique cinemas, studios, postproduction facilities and private screening rooms.

DCS loudspeakers have their roots in QSC's long history serving professional audio and cinema markets. Introduced in 2004, they became a defining product line that helped standardize high-quality, modern cinema sound, gaining significant global market share due to their high quality and performance. MiT will continue to market the loudspeakers under the DCS brand, with a commitment to quality and the highest levels of customer service and satisfaction.

MiT has acquired the DCS loudspeaker line assets, including access to designs, trademarks, other intellectual property necessary to continue to manufacture the line and inventory, and assumes responsibility for all sales, marketing, distribution and warranty and parts servicing for the DCS line. The asset purchase does not include any personnel. Manufacturing and component assembly will continue with existing third-party OEM's, with MiT overseeing the process. MiT funded the acquisition using cash from its solid balance sheet, and the transaction closed on October 31st.

Included in the asset purchase agreement is the Reference Monitor System (RMS) to support post-production facilities, studios, and high-end residential screening rooms. RMS is a complete system designed for the best possible listening experience when high audio precision is paramount.