The company has initiated talks to enter a joint venture with the prestigious institute and aid in the development and commercialization of one or more of PIAP’s cutting-edge robotics projects, according to a statement by emerging robotics innovation company.
PIAP is currently working on a variety of advanced robotic systems, from automated medical devices to unmanned crisis response and intervention robots. The company sees strong synergies with PIAP including those related to robots integrating smartphones and tablets, but did not disclose specifics of any potential deal at this time.
“Our due diligence has confirmed that PIAP is an ideal partner for Quantum International moving forward, and we anticipate signing a definitive agreement with the institute very soon,” said Quantum CEO Robert Federowicz.
While certain industries are struggling, the robotics industry remains strong with 5,556 robots worth $403.1 million sold to North American companies in the second quarter of 2012, up 14 percent in units and 28 percent in dollars over the same period last year. Leaders in the space include Intuitive Surgical, Inc. (NasdaqGS: ISRG), iRobot Corporation (NasdaqGS: IRBT), Medtronic, Inc. (NYSE: MDT) and Dover Corp. (NYSE: DOV). Still an upstart, Quantum is attempting to align itself to join this list of majors and believes that partnering with PIAP could be the key to unlocking billions in potential revenues in the booming robotics space.
Shares rose 4.12 cents, or 5.09 percent, to close at 85 cents each in Monday’s trading.
Quantum International Corp. (QUAN) Stock Quote and News:
Disclaimer: Neither www.otcshowcase.com nor its officers, directors, partners, employees or anyone involved in the publication of the website or newsletters (“us” or “we”) is a registered investment adviser or licensed broker-dealer in any jurisdiction whatsoever. Further, we are not qualified to provide any investment advice and we make no recommendation to purchase or sell any securities. The prior article is published as information only for our readers. otcshowcase.com is a third party publisher of news and research. Our site does not make recommendations, but offers information portals to research news, articles, stock lists and recent research. Nothing on our site should be construed as an offer or solicitation to buy or sell products or securities. This site is sometimes compensated by featured companies, news submissions and online advertising. Viper Enterprises, LLC (parent company of OTC Showcase) has received no compensation for this article from and owns no shares of the aforementioned company(ies). Please read and fully understand our entire disclaimer at http://www.otcshowcase.com/about-2/disclaimer.
According to the International Diabetes Federation, more than 500 million people will be diagnosed with diabetes in the next two decades, a more than 50 percent increase from today. Technologies are available presently to help manage the frequency, complications and costs associated with diabetes. Read the 
0 comments
Add your comment
Commenting is allowed only for registered users.