New Contract in China


 

TIDMINN 
 
RNS Number : 4857Q 
Innovision Research&Technology PLC 
14 April 2009 
 
ANNOUNCEMENT 
 
 
Innovision Research & Technology Plc 
 
 
New RFID Tag Contract in China 
 
 
 
 
Innovision Research & Technology plc (the "Company") is pleased to announce that 
it has signed its first contract in China.  The contract is for the development 
and supply of custom RFID tag technology for contactless smartcard and ticketing 
markets in China. The customer is a specialist in these markets and has been 
consistently rated as a China Top 10 Smart Card Vendor and also a Top 10 IC 
Design Company in China. 
 
 
Innovision will supply advanced analog, digital and EEPROM tag technology to be 
integrated with that of the customer for an initial two projects, which we hope 
will be the start of a partnership leading to others. The initial contract is 
expected to be worth several million dollars to the Company over the next few 
years, mostly in royalties but also including development revenue. 
 
 
 
 
David Wollen, Chief Executive Officer, said: 
 
 
"We told our investors that we were intending to make a first entry into the 
Chinese market, where we hope to tap into the very large potential market for 
our technology, particularly RFID tags. That is exactly what we have done.  It 
is also significant to Innovision as it complements recent large NFC contracts 
we have won and it addresses different markets, with different products and with 
shorter-term revenue potential. 
 
 
"We believe that the Chinese market is very important and, continuing our 
commitment to this market, we are holding a seminar for around sixty invited 
guests in Beijing on 30 April 2009. The seminar is dedicated to Innovision's 
capability and will be hosted by Professor Pan Lihua, Director General of the 
China Smart Card Society." 
 
 
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 
Jonathan Marren 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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