Last checked at 15 Jul 2008 14:00
Transense Technologies plc (the "Company")
15 July 2008
Re Agreement
Transense Technologies plc ("Transense") is pleased to announce that it has signed a non-exclusive licence agreement with SenGenuity, a division of Vectron International, a leader in the design, manufacture and marketing of breakthrough sensor product solutions, to develop and manufacture, wireless sensors for use in both pressure and torque sensing applications.
Under the terms of this agreement Transense will receive an immediate up-front payment, followed by a tiered arrangement of royalty income dependent upon sales volumes.
The agreement provides Transense with an additional route to market for its patented Surface Acoustic Wave (SAW) sensor technology. Vectron's considerable technical expertise with SAW based sensors, combined with their extensive global marketing reach, makes them an ideal partner as we seek to extract maximum value from our growing portfolio of IP.
"The advent of this partnership with Transense serves to broaden SenGenuity's product platform in a way that is very synergistic with the sensor technology that we have developed and introduced to the market to date", said Tom Cunneen, Vice President and General Manager, SenGenuity. "We are looking forward to a long and mutually beneficial relationship with Transense as we continue to provide highly differentiated advanced sensing solutions across a multitude of applications and markets."
As the market is aware, the board of Transense are currently undertaking a comprehensive strategic review of the existing Transense business model. This process has allowed the management team to more clearly identify the target markets for our technology, and additionally, what steps can be taken to accelerate the adoption of our technology within those markets. This first licensing deal by the new management team is a direct result of this newly focused strategy. The significant investment being made by Vectron in license fees and tooling is a resounding endorsement, both of our technology, and its value to Vectron within the sensor market.
Vectron International have also made an announcement to the market on this agreement, which can be found at http://www.sengenuity.com/news_press_releases.html .
About SenGenuity
SenGenuity, an operating division of Vectron International, is a leading provider of breakthrough sensor solutions and products. As part of its growing product portfolio, SenGenuity delivers to customers innovative solutions for measuring the condition of fluids in challenging, embedded environments by coupling its state-of-the-art precision sensor solutions with Vectron's surface and bulk acoustic wave (SAW and BAW) technology. Further, SenGenuity is leveraging its core competencies in AW technology along with extensive experience in radio frequency (RF), signal conditioning, embedded system electronics design and advanced packaging technologies to drive the development of breakthrough solutions for gas and physical sensing applications. Dedicated to taking a leadership role in the $50 billion sensor market, SenGenuity is continually designing and manufacturing innovative sensing solutions that can be used across a broad range of industries, and are rapidly becoming the new standard for performance and reliability in critical data gathering applications. For more information visit www.sengenuity.com.
About Vectron International
Vectron International is a world leader in the design, manufacture and marketing of frequency control, sensor, and hybrid product solutions. Vectron solves complex timing, filtering and sensor challenges by delivering customized solutions that speed time to market and offer low total cost of ownership. Vectron uses the very latest techniques in both bulk acoustic wave (BAW) and surface acoustic wave (SAW) based designs from DC to microwave frequencies. Committed to the industry's highest quality service standard and complete satisfaction, Vectron International leverages its global footprint and 50 years of experience to help customers achieve competitive differentiation and improve their bottom line. Vectron International is headquartered in Hudson, NH and has operating facilities and sales offices in North America, Europe and Asia. For more information visit www.vectron.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, 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).
Contacts:
Transense Technologies PLC
Melvyn Segal 01869 238380
Brewin Dolphin Investment Banking
Neil Baldwin 0845 213 4730
ENDS