Color Kinetics Announces Licensing Agreement With Neo-Neon
December 18 2006 - 7:00AM
PR Newswire (US)
One of the world's largest LED lighting manufacturers licenses
Color Kinetics' patent portfolio to enable worldwide sales BOSTON,
Dec. 18 /PRNewswire-FirstCall/ -- Color Kinetics Incorporated
(NASDAQ:CLRK), a leading innovator of LED lighting systems and
technologies, today announced the signing of a global licensing
agreement with Neo-Neon International Ltd. Neo-Neon will be granted
access to Color Kinetics' complete patent portfolio, allowing the
continuing development and sale of its LED lighting products
worldwide. Neo-Neon is a China-based, 25-year established
manufacturer of decorative and entertainment lighting products that
include a growing number of LED-based offerings. Through the
agreement, Neo-Neon will be able to offer its customers the
powerful capabilities of digital intelligence as protected by Color
Kinetics' patents. The license will apply to sales of numerous
Neo-Neon products in all markets covered by Color Kinetics' patent
portfolio. "We believe that demand for LED-based lighting products
will continue to increase as the technology progresses and becomes
even more competitive with traditional light sources," said Ben
Fan, Chairman, Neo-Neon. "As LED technology grows increasingly
important to our business, we believe it's important to align with
Color Kinetics, whose pioneering R&D and resulting intellectual
property are well established." "This agreement marks another
strong win for our growing licensing business, which leverages
nearly ten years of investment, research and development as the
foundation of our IP," said Bill Sims, President and CEO, Color
Kinetics. "We believe the market for LED lighting is very broad and
can sustain many players. We therefore welcome the opportunity to
enable companies like Neo-Neon who want to take advantage of our
inventions in the fast-growing LED lighting space. At the same
time, this agreement provides a measure of protection for our
Lighting Systems business by requiring a special royalty rate on
sales of products that resemble our own." Color Kinetics today
holds 58 issued patents that range from core technology and
products to high-level control systems, complete lighting systems,
applications, environments and methods of use. About Color Kinetics
Color Kinetics Incorporated (NASDAQ:CLRK) transforms environments
through new, dynamic uses of light. Its award-winning lighting
systems and technologies apply the benefits of LEDs as a highly
efficient, long lasting, environmentally friendly, and inherently
digital source of illumination -- reinventing light itself as a
highly controllable medium. Color Kinetics also enables widespread
adoption of LED lighting through OEM and licensing partnerships in
diverse markets. The company is headquartered in Boston, MA with
offices in the UK, China, and Japan. More information is available
at http://www.colorkinetics.com/. About Neo-Neon Neo-Neon is one of
the world's leading decorative lighting manufacturers. The company
is primarily engaged in the research and development, design,
manufacturing and distribution of incandescent-based decorative
lighting products, LED-based decorative lighting products and
entertainment lighting products. Its product range covers more than
10,000 models of lighting products to cater to the varied and
changing needs of its customers. The company is located in Heshan,
Guangdong Province, China. "Safe Harbor" Statement under the
Private Securities Litigation Reform Act of 1995: Statements in
this press release regarding Color Kinetics Incorporated's business
that are not historical facts are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Readers are cautioned that these statements involve risks
and uncertainties, are only predictions and may differ materially
from actual future events and results. For a discussion of such
risks and uncertainties, see "Risk Factors" in the Company's Annual
Report on Form 10-K for the Twelve Months Ended December 31, 2005,
File Number 000-50798, and most recent 10-Q, each as filed with the
Securities and Exchange Commission. Color Kinetics and the Color
Kinetics logo are registered trademarks of Color Kinetics
Incorporated. All other trademarks mentioned are the property of
their respective owners. DATASOURCE: Color Kinetics Incorporated
CONTACT: Felicia Spagnoli, Media Relations, +1-617-701-2292, or ;
or Justine Alonzo, Investor Relations, +1-617- 701-2272, , both of
Color Kinetics Incorporated. Web site:
http://www.colorkinetics.com/
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