info@innovision-group.comuk: +44 (0)1285 888 200
us: +1-800 511 9539
fax: +44 (0)1285 888 190
New Contract
Tuesday 10th February, 2009
Innovision Research & Technology plc
(the “Company” or “Innovision R&T”)
New Contract
Further to the Company’s announcement on 27 January 2009, the Company is pleased to announce that it has signed a significant new contract with a leading global semiconductor corporation for the use of its IP (Intellectual Property) for their system devices. While there is clearly a value from this business in the short-term, the major benefits are anticipated in the longer-term. The Board of Innovision R&T expects the contract to generate direct revenues in excess of $10 million over several years from a combination of licence, development and royalty income.
David Wollen, Chief Executive Officer, said:
"Winning a major contract such as this, especially in the current depressed marketplace, against very strong competition and after intense scrutiny and evaluation of our capability represents a major achievement. Apart from the direct economic value it is also a great endorsement of our IP and, just as importantly, a major statement of confidence in our growing capabilities in RF and NFC moving forward.
"In parallel to the ongoing progress with our core IP, we have taken several steps forward in developing our RFID/NFC tags business in consumer and transport ticketing applications. Although individually small, recent design wins such as NFC tags in photoframes and in transport with mobile operators are building up a baseline business in tags."
Further information on the recent tag sales is available from:
Enquiries:
Innovision Research & Technology Plc Tel: 01285 888 200
David Wollen, Chief Executive
Brian McKenzie, Finance Director
KBC Peel Hunt Ltd (Nominated Adviser and Broker) Tel: 020 7418 8900
Oliver Scott
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).