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Major NFC Contract

Tuesday 13th April, 2010

Innovision Research & Technology plc

(the "Company" or "Innovision R&T")

 

Major NFC Contract

 

The Company is pleased to announce that it has signed a significant new contract with another global leading semiconductor corporation for the use of its NFC IP (Intellectual Property) in their range of chips targeted at mobile handsets and other consumer electronic products incorporating connectivity solutions.  There will be licence and development services revenue in excess of $2 million in this financial year with further development, licence and royalty flows anticipated in the following years. The Board of Innovision R&T expects this 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 such a major licence and royalty deal for our NFC IP with such a leading semiconductor corporation at the start of our new fiscal year is tremendously encouraging.  There are signs of great activity in the NFC world and this win should secure our IP into a significant proportion of the NFC handsets in years to come. It clearly vindicates our continuing approach of investing strongly now in our leading NFC IP and design capability for the long-term future.

 

"Furthermore it endorses the management's view that we are strengthening our position at a crucial time. In addition to a strong royalty stream based on expected handset shipments it also provides a foundation on which to build our tags and peripherals business for applications that will interact with the phones using NFC."

 

 

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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