Fonix Signs Collaboration Agreement with MediaZen

SALT LAKE CITY - Fonix Speech Inc., a wholly owned subsidiary of Fonix Corp. (OTCBB: FNIX) specializing in embedded speech interfaces for mobile devices, handheld electronic products, and systems and processors, signed a collaboration agreement with MediaZen Inc., a Korea-based company developing user interfaces for computers and devices.

According to the terms of the agreement, MediaZen and Fonix will jointly develop, produce and market automatic speech recognition (ASR) and text-to-speech (TTS) solutions to manufacturers in the Asian market, initially in Korea, with plans to expand to other countries. The agreement allows MediaZen and Fonix to leverage combined engineering know-how to develop future ASR- and TTS-based customer applications. The contract signifies Fonix as the exclusive speech technology provider for MediaZen and its future development projects. Fonix and MediaZen will share unit royalty fees upon deployment of completed applications.

MediaZen is affiliated with the Korea University and its customers include Hyundai Autonet and PosData Co., Ltd.