TIDMTEK
RNS Number : 0886K
Tekcapital plc
14 April 2015
14 April 2015
Tekcapital plc
("Tekcapital" or "the Company")
Technology Acquisition and Issue of Equity
Tekcapital acquires exclusive licence to portfolio of 13 optical
technology patents
- Potential to empower the development of small form,
head-mounted projected displays with eye tracking -
- Potential for incorporation within augmented and virtual
reality applications across multiple sectors -
Tekcapital plc (AIM: TEK), an international provider of
technology and intellectual property services, is pleased to
announce that it has acquired the exclusive worldwide license to a
portfolio of 13 optical technology patents from the University of
Central Florida. The patents enable the development of new, small
form, lightweight and see-through high-resolution, head-mounted
projection displays with eye tracking. Suitable for collaborative
augmented reality ("AR") applications, the patents are able to
support a wide range of consumer, medical, military and industrial
applications.
This broad technology portfolio is designed to be incorporated
into many existing optical systems such as head-mounted displays
and also has the potential to empower the development of next
generation wearable optics for both augmented reality and fully
immersive virtual reality ("VR") applications. Wearable displays
with compact illumination are able to project video, navigation,
messaging and games and overlay augmented reality applications on a
large virtual screen format with hands free operation. The patent
portfolio enables design trade-offs between packaging,
illumination, field of view and resolution for AR / VR head-mounted
projected displays.
This portfolio was developed at CREOL, the College of Optics and
Photonics at the University of Central Florida (UCF). CREOL is one
of the world's foremost institutions for research and education in
optical and photonic science and engineering. Over the years, the
college has maintained a tradition of promoting growth in optics
and photonics and enjoys a strong partnership with industry.
The directors of Tekcapital believe this technology portfolio
represents an important IP opportunity with the potential for
market adoption across multiple sectors via out-licensing.
Industry potential
According to a report from research firm Gartner, Inc.(1) by
2018 about a third of smart wearables will have near eye
head-mounted displays ("HMDs") with transparent interfaces
incorporated into attractive and fashionable designs which will
drive mainstream consumer adoption. These HMDs will support AR / VR
applications in consumer-grade lightweight, video eyeglasses.
The directors of Tekcapital believe that AR glasses could be
transformative and may become the user interface of choice,
gradually replacing the hand held smart-phone touchscreen interface
for many applications.
With these patents, the directors of Tekcapital believe
Tekcapital is well placed to benefit from the growing interest in
HMD patent portfolios, as demonstrated by several recently observed
transactions by industry leaders involving HMD patent portfolios,
including Microsoft's acquisition of the Osterhaut Design Group
portfolio of 81 patents and applications for US$150 Million(2) ,
Facebook's acquisition of Oculus VR for $2 Billion(3) and Google's
acquisition of HMD patents from Hon Hai Precision Industry
(Foxconn) for an undisclosed amount(4) .
Commenting on the acquisition, Dr. Clifford M. Gross, Executive
Chairman of Tekcapital, said:
"We are excited to have acquired the exclusive license to this
important portfolio of patents from the University of Central
Florida and we look forward to commercialising this technology with
forward-thinking technology companies that can benefit from
improving their products with these advanced optical
technologies."
Svetlana Shtrom, Ph.D., Director of Technology Transfer, UCF
Office of Research & Commercialization, added:
"We are pleased to have licensed this excellent portfolio of
optical patents to Tekcapital and we are very excited about the
potential for this technology to improve existing optical systems
and empower a new generation of improved products."
Tekcapital will issue 479,060 new ordinary shares
("Consideration Shares") to the UCF for the acquisition of the
exclusive license to this portfolio of 13 patents and provide a
portion of the future revenue generated from the portfolio to the
university.
Application will be made for the Consideration Shares to be
admitted to trading on AIM, which is expected to become effective
on or around 24 April 2015. The Consideration Shares will rank pari
passu with the Company's existing ordinary shares in issue.
Following the issue of the Consideration Shares later this
month, Tekcapital will have in issue 23,928,579 ordinary shares of
0.4p each with one voting right each. The Company does not hold any
ordinary shares in treasury. Therefore the total number of ordinary
shares and voting rights in the Company will be 23,928,579. This
figure may be used by shareholders in the Company as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the share capital of the Company under the FCA's
Disclosure and Transparency Rules.
For further information please contact:
+1 305 200 3450
Tekcapital Plc Ext 305
Clifford M. Gross cgross@tekcapital.com
University of Central Florida +1407 882 1576
Christa Santos Christa.Santos@UCF.edu
Allenby Capital Limited (Nominated
Adviser & Joint Broker) +44 (0)20 3394 2972
Jeremy Porter / Alex Brearley
Optiva Securities Limited (Joint +44 (0) 20 3137
Broker) 1904
Jeremy King / Vishal Balasingham jeremy.king@optivasecurities.com
+44 (0) 20 3727
FTI Consulting, LLP 1000
Chris Lane / Emma Appleton / Roger
Newby tekcapital@fticonsulting.com
Tekcapital plc - The World's Largest University Network for Open
Innovation
Tekcapital helps clients profit from new, university-developed
intellectual properties. With our proprietary discovery search
engine, linked to 4,000+ universities in 160 countries, coupled
with expert scientific review, we provide a turn-key service to
make it easy for clients to find and acquire the IP they need to
create a competitive advantage. Tekcapital plc is listed on the AIM
market of the London Stock Exchange (AIM: symbol TEK) and is
headquartered in Oxford, in the UK. For more information, please
visit www.tekcapital.com
About the UCF Center for Innovation & Entrepreneurship
The University of Central Florida Center for Innovation &
Entrepreneurship (UCF CIE) is a university wide program
consolidating and coordinating major innovation and
entrepreneurship support activities with the objectives of:
Education, Research and Outreach. Its goal is to leverage
university and regional partnerships to create an effective
entrepreneurial support infrastructure in the Central Florida
Region, with a mission to promote innovation, wealth creation, and
economic vitality. The UCF CIE programs include: Florida Small
Business Development Center at UCF, GrowFL, UCF's Business
Incubation Program, Center for Entrepreneurial Leadership,
Innovation Corps (I-Corps), Office of Technology Transfer, and the
Venture Accelerator. Connect at cie.ucf.edu
--------------------------------------------------
Cited References
1. http://www.gartner.com/newsroom/id/2941317
2.
http://techcrunch.com/2014/03/27/microsoft-paid-up-to-150m-to-buy-wearable-computing-ip-from-the-osterhout-design-group/
3.
http://techcrunch.com/2014/03/25/facebook-to-buy-oculus-vr-maker-of-the-rift-headset-for-around-2b-in-cash-and-stock/
4.
http://www.augmentedrealitytrends.com/augmented-reality/augmented-reality-display-patents-of-foxconn-is-now-google-property.html
----------------------------------------------------
List of Exclusively Licensed Patents
1. Head-Mounted Display With Eye Tracking Capability US Patent #6,433,760
2. Compact Lens Assembly for the Teleportal Augmented Reality System US Patent #6,731,434
3. Compact Lens Assembly for the Teleportal Augmented Reality System (CIP) US Patent #6,804,066
4. Head-mounted Display by Integration of Phase-Conjugate Material US Patent #6,963,454
5. Head Mounted Display by Integration of Phase Conjugate Material DIV US Patent#6,999,239
6. Compact Microlenslet Arrays Imager US Patent #7,009,773
7. Iterative Least-Squares Wavefront estimation for general pupil shapes US Patent #7,088,457
8. Head Mounted Projection Display with a Wide Field of View US Patent #7,119,965
9. Imaging System for Eyeglass-Based Display Devices US Patent #7,499,217
10. Projection based Head Mounted Display with Eye-Tracking
Capabilities US Patent # 7,522,344
11. Compact Optical See-Through Head-Mounted Display with
Occlusion Support US Patent #7,639,208
12. Systems and Methods for Providing Compact Illumination in
Head Mounted Displays US Patent #7,843,642
13. Imaging Systems for Eyeglass-Based Display Devices US Patent
#7,969,657
This information is provided by RNS
The company news service from the London Stock Exchange
END
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