Provision Interactive Technologies Inc. will receive up to $50 million to bring its 3-D holographic kiosks to retail stores, starting with a national pharmacy chain, the company announced Tuesday.
The Chatsworth company will receive an initial investment of $2 million from ProDava 3D LLC under an agreement between the two companies. Provision will manufacture, install and service the kiosks that display advertisements, promotions, sweepstakes, samples and coupons in retail locations. ProDava will purchase the kiosks and place them in high-traffic areas of national retailers.
The first deployment will be in an unnamed national pharmacy chain. Advertising and other revenues generated by the kiosks will be split between Provision and ProDava 3D.
Provision Chief Executive Curt Thornton said he looked forward to a successful future with DB Dava on this new opportunity.
Shares closed up less than 1 cent, or 4.5 percent, to 8 cents on the over-the-counter market.