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Jakks to create toys using image recognition technology

The company will create a joint venture with NantWorks


Toy maker Jakks Pacific ans the new technology company NantWorks will create a joint venture to develop, market and sell next generation toys incorporating NantWorks' proprietary image recognition technology. The new venture will be named DreamPlay Toys.

Jakks Pacific will begin transforming its product line to incorporate the new image recognition technology, and will present the first examples at the International Toy Fair in LA in October. Children will be able to "activate" toys, and interact with them using smart phones or tablet devices, in their homes and in stores. The NantWorks platform enables instant connections between physical toys, video, posters, books, games and all other forms of media.

Under the terms of the letter of intent, NantWorks will link Jakks' toy products to content and animation on mobile devices through the image recognition platform, and Jakks will have the exclusive right to arrange for partnerships with other toy companies to make the platform available to them in the development, sale and marketing of their toy products. Jakks and NantWorks will have a profit sharing arrangement for these third party toy relationships. Under the proposed arrangements, Jakks Pacific will be providing resources, including personnel and facilities and the services of its CEO. Mr. Berman will also serve as General Manager of DreamPlay Consumer Products, which will extend image recognition technology to non toy consumer products and applications.

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