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New RFID Tag Contract in China

Tuesday 14th April, 2009

New RFID Tag Contract in China

 

 

Innovision Research & Technology plc (the “Company”) is pleased to announce that it has signed its first contract in China.  The contract is for the development and supply of custom RFID tag technology for contactless smartcard and ticketing markets in China.  The customer is a specialist in these markets and has been consistently rated as a China Top 10 Smart Card Vendor and also a Top 10 IC Design Company in China.

 

Innovision will supply advanced analog, digital and EEPROM tag technology to be integrated with that of the customer for an initial two projects, which we hope will be the start of a partnership leading to others.  The initial contract is expected to be worth several million dollars to the Company over the next few years, mostly in royalties but also including development revenue.

 

 

David Wollen, Chief Executive Officer, said:

 

"We told our investors that we were intending to make a first entry into the Chinese market, where we hope to tap into the very large potential market for our technology, particularly RFID tags.  That is exactly what we have done.  It is also significant to Innovision as it complements recent large NFC contracts we have won and it addresses different markets, with different products and with shorter-term revenue potential.

 

"We believe that the Chinese market is very important and, continuing our commitment to this market, we are holding a seminar for around sixty invited guests in Beijing on 30 April 2009.  The seminar is dedicated to Innovision's capability and will be hosted by Professor Pan Lihua, Director General of the China Smart Card Society."

 

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

David Anderson

Jonathan Marren

 

 

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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