FOR IMMEDIATE RELEASE CONTACT: Carol Blackley
August 29, 1995 Fisher-Price, Inc.
(716) 687-3423
COMPAQ AND FISHER-PRICE TEAM UP TO TRANSFORM 'EDUTAINMENT'
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JOINTLY DEVELOPED PRODUCTS WILL
OFFER NEW DIMENSION IN PLAY AND LEARNING
HOUSTON, August 29, 1995 -- In a move that will change the way
families play and learn, Compaq Computer Corporation (NYSE: CPQ) and toy
manufacturer Fisher-Price, a subsidiary of Mattel, Inc. (NYSE: MAT) today
announced they have teamed up to develop, manufacture and market a totally
new line of education and entertainment-oriented products for young
children.
The new alliance represents an important moment for each company
as it combines the efforts of the world's leading manufacturers of
computers and pre-school toys to provide new and engaging ways for young
children to harness the power of their multimedia PCs to play and learn.
The opportunities for multimedia PC-based play and learning
products are enormous. Current research shows that more than 35 million
PCs have been sold into the home environment, and that nearly 30 percent of
the 18 million U.S. households that have multimedia PCs, also have children
under the age of seven.(1)
"It's no secret that parents are looking for products that
combine the entertainment and educational value of PCs," said Eckhard
Pfeiffer, president and CEO of Compaq Computer Corporation. "Products
produced by this partnership will help satisfy customer needs by delivering
new and fun ways to play and learn, developed by companies whose names
families have come to know and trust.
"This partnership with Fisher-Price will help us reach an
exciting new dimension in family and lifestyle computing and fits perfectly
with our vision of providing truly useful innovation to the consumer
marketplace," Pfeiffer added.
[FN]
(1) Link Resources Corp., 1994 Home Media Consumer Survey
2-2-2-2-2
The new products will utilize hardware and software technology
and are expected to be introduced in mid-1996 through the PC and toy
channels. Additional product details were not disclosed, but prototypes
are expected to be unveiled early next year.
"As a world leader in developing and marketing creative and
educational toys for children, Fisher-Price is always looking to identify
and respond to family needs," said Byron Davis, president and CEO of
Fisher-Price. "The tremendous popularity of home computers means it is now
possible to add a new dimension to how pre-school age children play and
learn. We plan to link education, entertainment and PCs together in a fun,
imaginative and innovative way. We believe we can leverage the respective
strengths of Compaq and Fisher-Price to develop products that capture and
stimulate the imaginations of children and parents."
As part of the alliance, each company will focus on its
particular strengths to benefit the combined effort. Fisher-Price will
bring its expertise in designing and manufacturing engaging products that
stimulate play and learning to the partnership. Compaq will bring its
expertise in creating innovative, reliable and lifestyle-enhancing
technology. Defined teams within the two companies are working together on
product design, manufacturing and consumer marketing. To ensure the
products provide the desired educational value, the teams utilize
educational specialists and make heavy use of Fisher-Price's special "child
testing lab."
"Both companies have impeccable reputations for quality,
reliability, service and support. We are extremely excited and confident
about leveraging these strengths to create products that parents will trust
and children will thoroughly enjoy," added Davis. "By combining forces on
this project, we can accomplish together what we might not have been able
to individually."