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Major NFC IP Contract

Friday 4th June, 2010

Innovision Research & Technology plc

(the “Company” or “Innovision R&T”)

 

Major NFC IP Contract

 

The Company is pleased to announce that it has signed its second significant new contract for its GEMTM NFC Intellectual Property this fiscal year.  The contract is with another major global semiconductor corporation and relates to chips targeted at high volume markets for mobile handsets and other consumer electronic products incorporating wireless communications.

 

This contract is particularly significant as it is the first where the end customer will licence and take delivery of the IP and then customise it to their requirements utilising their own engineering teams.  There will be licence and some small services revenue in excess of $2 million in this financial year with further royalty flows anticipated in the following years. It is expected this contract will generate direct revenues in excess of $6 million over several years, mostly from a combination of licence and royalty income.

 

David Wollen, Chief Executive Officer, said:

 

"This is an important milestone for the Company as we further proliferate adoption of our IP into very high volume markets with major global players, while at the same time minimising the need to add large engineering teams for customisation as we have been doing to date.

 

“The majority of the tier 1 semiconductor connectivity companies worldwide are now adopting or evaluating our IP for NFC, known as GEM.  By encouraging customers to undertake any customisation they require themselves or to take the IP with minor changes, which becomes possible as it matures, we are able to start penetrating tier 2 and 3 accounts.  This should further strengthen the future royalty stream.”

 

 

Enquiries:

 

Innovision Research & Technology Plc                          Tel: 01285 888 200

David Wollen, Chief Executive Officer

Brian McKenzie, Finance Director

 

KBC Peel Hunt Ltd (Nominated Adviser and Broker)               Tel: 020 7418 8900

Jonathan Marren

David Anderson

 

About Innovision Research & Technology plc

Innovision Research & Technology plc, is leading the next generation of NFC/RFID solutions. As the leading fabless developer of Short-Range Data Communication semiconductor and system solutions, with particular focus on NFC/RFID (Radio Frequency Identification) and ultra low-cost Integrated Circuit (IC) and RF electronic design, IRT is pushing cost performance to enable clients to get maximum utility for minimum cost.

The company develops innovative semiconductor technologies, ICs, RF systems (HF/UHF) and complete end product applications for mass volume commercialisation and then licenses customers for its incorporation into their own products.

At the heart of the emerging Near Field Communication (NFC) market, Innovision R&T designs and develops NFC/RFID IC solutions for the global mobile handset and consumer device sectors.

Products include Topaz, mandated by the NFC Forum as the NFC number one tag type format, Jewel for mass transit ticketing applications, and io, the world's smallest standards compatible Near-Field RFID reader.

Headquartered in the UK, Innovision R&T was listed in 2001 on the Alternative Investment Market (AIM) of the London Stock Exchange (ticker symbol:INN).

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