NEW YORK, NY--(Marketwired - Sep 24, 2013) - Infinity Augmented Reality, Inc. ("Infinity Augmented Reality" or "Infinity AR") (OTCQB: ALSO), the first augmented reality software platform to connect universally with digital eyewear, smartphones, tables, smart TVs and connected cars, announced today it is opening a new office in Toronto Canada where CIO Helen Papagiannis will take the helm.
Infinity AR's decision to open an office in Toronto could not come at a better time. As the third largest Information & Communications Technology (ICT) cluster in North America, (over 13,000 firms with over 200,000 employees), Toronto hosts a $52 billion annual IT revenue industry. According to a recent Forbes article, from Toronto to Waterloo is considered the hot spot for tech with companies like Google (Gmail was birthed in Waterloo) and BlackBerry. Toronto has Facebook and Twitter offices as well as plans for Square to open an office in 2014. In addition, Toronto is home of "the father of wearable computing," University of Toronto professor, Steve Mann. Mann is also the Chief Scientist for the digital eyewear company Meta that serves as a hardware partner of Infinity AR. As a natural fit, Infinity AR became an investor in Meta this past July.
Papagiannis was a keynote speaker recently with Bruce Sterling from Wired Magazine at an event for the Ontario Augmented Reality Network (OARN), a network of universities, developers, local government and business generators dedicated to building and expanding the augmented reality applications sector. "The augmented reality work in Toronto is so vibrant," says Papagiannis. "It is such a hotbed of AR thinkers, creators, and innovators and therefore our new office is a natural fit in the community. We are looking forward to not only tapping into this resource, but also giving back by expanding the technology with Infinity AR's resources."
Augmented reality is improving the way people see and interact with technology. Connected to digital devices such as smartphones, smartwatches and smart homes, Infinity AR enhances the augmented reality experiences for users. For example, Infinity AR's Amazing Relevance integrates all the user's digital devices enabling them to absorb all they can about the user in order to facilitate that knowledge to simplify the user's life. Amazing Relevance actually anticipates what the user will want and when he will want it, providing suggestions and solutions. In a recent issue of Toronto's The Star, Papagiannis stated, "The biggest potential for this technology is to make our lives better. It will help us in our day-to-day lives. It won't even be called augmented reality anymore. It will just be called reality."
The Toronto office is just another step toward extending Infinity AR's reach. The company has been expanding since the creation of its Virtual Media Center, which takes entertainment mediums such as music concerts, sporting events and television, and creates a breakthrough platform by providing an extraordinary immersive experience for the user. This product provides a lucrative foundation for Infinity AR in this ever-growing industry. A recent Semico Research study predicts that by 2014, 864 million smartphones will be augmented reality-equipped, and that augmented reality-related revenues will reach $600 billion by 2016.
"The clear choice for the office in Toronto is due to momentum," says Infinity AR's CEO Enon Landenberg. "Toronto's technology culture and Infinity AR's augmented reality prowess in this field are a perfect marriage. We expect great strides in the continued development of augmented reality technology and products."
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.