Contract Extension
April 06 2009 - 1:00AM
UK Regulatory
TIDMINN
RNS Number : 1538Q
Innovision Research&Technology PLC
06 April 2009
Innovision Research & Technology Plc ("Innovision" or the "Company")
Major Contract Extension
Innovision Research & Technology plc is pleased to announce that it has signed a
significant contract extension with a market leading European wireless
communications company for the inclusion of our next generation Near Field
Communication ("NFC") intellectual property in their Integrated Circuits (IC)
targeted at the mobile handset and consumer device markets.
This contract extension comprises additional development funding of
approximately $1 million and royalties expected to be worth several million
dollars to the Company over several years.
David Wollen, Chief Executive Officer, said:
"This additional commitment to a new generation of our IP is a further
endorsement of Innovision and the NFC market in an environment where consumer
demand is generally depressed. It is also indicative of the true partnership
we have with our customer base in the RF field and gives a clear message about
the strong competitive positioning of our IP in this emerging NFC market."
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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