Innovision Research & Technology
Innovision Research & Technology delivers innovative and market leading ICs for wireless connectivity solutions. Our primary focus is on short-range data communication from one device to another, passive and/or active, with a special emphasis on Near Field Communications (NFC) and RFID solutions.
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Innovision Research & Technology signs 1st deal in China
Innovision Research & Technology PLC (AIM: INN) announced signing its first contract in China, developing and supplying custom Radio Frequency ID tag technology for contactless smartcard and ticketing markets in the country.
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.
Investors reacted positively to the news, sending the share up more than 9 percent by late morning.
Innovision declined to specify who its customer is other than that it 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.
Chief executive David Wollen 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 contracts we have won and it addresses different markets, with different products and with shorter-term revenue potential.”
