Last checked at 30 Jan 2009 13:47
Transense Technologies plc ("Transense")
29 January 2008
Contract win
Transense is pleased to announce an extension to the original license agreement with Stack Limited ("Stack"), dated 28th October 2004. The new agreement extends the scope of the existing Stack licence within the motorsport sector.
In return for this extended license agreement, Transense will now receive a guaranteed minimum annual royalty payment, in addition to the existing licence terms.
Graham Storey, Commercial Director of Transense commented:
"We are delighted to have concluded this supplementary agreement to our license with Stack to the mutual benefit of both companies. As stated in our strategic review, securing recurring revenues is one of our primary objectives, and minimum royalty payments provide us with a guaranteed level of income."
Alan Rock, Managing Director of Stack said:
"The latest development of our Tyre Pressure Monitoring System (TPMS) was launched at the recent Autosport International Engineering Show at the NEC. We believe our system completely re-defines tyre pressure monitoring in motorsport and this license extension will allow us to secure a valuable market segment"
Contacts:
Transense Technologies plc
Melvyn Segal 01869 238 380
Graham Storey 01869 238 385
Brewin Dolphin Investment Banking
Neil Baldwin 0113 241 0126
About Stack
Stack is a world-leading supplier of dashboard instruments, data acquisition and video systems to motorsport and automotive customers worldwide. For more information visit <http://www.stackltd.com> www.stackltd.com
About Transense
Transense Technologies is a technology transfer company based in Upper Heyford, Oxfordshire. Transense develop Surface Acoustic Wave (SAW), wireless, batteryless, sensor systems in partnership with its licensees, Honeywell, Melexis, Michelin, TI, Tai-Saw, Sengenuity and Stack.
Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque systems for Electrical Power Assisted Steering (EPAS) and driveline management.
Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT).
ENDS