News

Provision secures ownership of 650 kiosks in Rite Aid stores in lawsuit settlement

December 3, 2018

Provision Holding Inc. has been awarded 100 percent ownership of the approximately 650 kiosks that had been deployed in Rite Aid stores under the settlement of a lawsuit related to its collaboration agreement with the pharmacy chain, according to a press release.

Provision is not subject to any settlement-related costs, nor any future revenue obligations to Rite Aid upon kiosk redeployment, the release said. Provision expects all kiosks to be returned by the end of 2018, and the company intends to re-purpose these kiosks and redeploy them with various retailers in 2019.

“There was a dispute about the contract and we just decided to walk away,” Curt Thornton, CEO for Provision, told Kiosk Marketplace. “We're in the middle of removing our kiosks.”

"We are pleased to have resolved the litigation with Rite Aid on favorable terms that allow Provision to focus on executing on its growth strategy," Mark Leonard, Provision CEO, said in the press release. "We are now sufficiently capitalized with our recently completed $2 million in funding to allocate resources towards expanding our network of 3D toppers in U.S. grocery stores. We expect redeployment of these kiosks across the retail channel in 2019 to further expand the scale of the Provision advertising network, and provide an additional tailwind of operating momentum."

Provision Interactive Technologies, a subsidiary of Provision Holding, Inc., is a developer of interactive 3D holographic display technologies, software and integrated solutions used primarily in retail settings. Provision's 3D advertising displays are designed to increase in-store engagement, coupon redemption and point-of-purchase activity, according to the release.