DGAP-News: SMARTRAC N.V. / Key word(s): Legal Matter
SMARTRAC N.V.: Neology and 3M Resolve Patent Litigation
27.06.2013 / 10:00
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Neology and 3M Resolve Patent Litigation
Amsterdam, The Netherlands / St. Paul, MN, USA / San Diego, CA, USA, June
27, 2013 - SMARTRAC N.V. and 3M Company today announced an agreement
between SMARTRAC N.V., its subsidiary Neology, Inc., and 3M Company. The
agreement resolves patent infringement litigation Neology initiated against
3M and Federal Signal Corporation relating to businesses purchased by 3M
from Federal Signal Corporation in September 2012.
The agreement gives Neology, SMARTRAC and 3M access to each other's RFID
products in the transportation market - Neology will have access to 3M's
multi-protocol readers and 3M to SMARTRAC's and Neology's tags and
technology in the transportation market. This positions the companies as
suppliers of 6C RFID technology to the industry. The agreement also
includes a confidential financial arrangement.
Given the superior communication protocol and open platform of the 6C RFID
technology, the companies will provide their customers the path to
interoperability via the ISO 18000 6C standard.
Francisco Martinez de Velasco, Chief Executive Officer of Neology, stated:
'We are very pleased and excited about the agreement. Our patented cutting
edge technologies allow us to manufacture superior products and provide
excellent integration services tailored to our customers' needs. We are
confident we will become a valuable supplier to 3M and its subsidiaries and
look forward to advancing the 6C standard.'
Dan McGurran, Business Director, 3M Motor Vehicle Systems and Services,
said '3M is pleased to have reached an agreement that will allow both
companies to solve the transportation market's pressing need for
interoperability via the ISO 18000 6C technology. This will improve the
efficiency of tolling and enhance the motorist experience.'
Christian Uhl, CFO of SMARTRAC, further noted, 'We believe that our
companies will mutually benefit from this agreement and we are delighted
that we have been able to identify new opportunities to pursue together. We
look forward to continue and intensify the collaboration and relationship
between SMARTRAC and 3M.'
About Neology, Inc.:
As an early player in UHF technology and holder of important Intellectual
Property in the industry, Neology is a leading provider of integrated
solutions for the tolling, electronic vehicle registration (EVR) and public
safety markets. For more information visit www.neology-rfid.com
About SMARTRAC:
SMARTRAC(R) is the leading developer, manufacturer, and supplier of RFID
and NFC transponders and inlays. The company produces both ready-made and
customized transponders and inlays used in access control, animal
identification, automated fare collection, border control, RFID-based car
immobilizers, contactless payment cards, electronic product identification,
industry, libraries and media management, laundry, logistics, mobile and
smart media, public transport, retail, and many more.
SMARTRAC was founded in 2000 and has its registered headquarters in
Amsterdam, The Netherlands. The company currently employs approximately
3,600 employees and maintains a global research and development,
production, and sales network.
Tanja Moehler, SMARTRAC and Neology
Head of Corporate Communications & Marketing
SMARTRAC N.V.
Phone: +31 20 30 50 157
Email: tanja.moehler@smartrac-group.com
Internet: www.smartrac-group.com
Twitter: www.twitter.com/SMARTRAC_NV
Forward-Looking Statements:
All forward-looking statements contained in this press release are based on
assumptions, planning, and forecasts at the time of publication of this
press release. Forward-looking statements always involve uncertainties.
Business and economic risks and developments, the conduct of competitors,
political decisions, and other factors may cause the actual results to be
materially different from the assumptions, planning, and forecasts at the
time of publication of this press release. Therefore, SMARTRAC N.V. does
not assume any responsibility relating to forward-looking statements
contained in this press release. Furthermore, SMARTRAC N.V. does not assume
any obligation to update the forward-looking statements contained in this
press release.
About 3M:
3M captures the spark of new ideas and transforms them into thousands of
ingenious products. Our culture of creative collaboration inspires a
never-ending stream of powerful technologies that make life better. 3M is
the innovation Company that never stops inventing. With $30 billion in
sales, 3M employs 88,000 people worldwide and has operations in more than
70 countries. For more information, visit www.3M.com or follow @3MNews on
Twitter.
Donna Fleming Runyon, 3M
651-736-7646
Forward-Looking Statements
This news release contains forward-looking information about 3M's financial
results and estimates and business prospects that involve substantial risks
and uncertainties. You can identify these statements by the use of words
such as 'anticipate,' 'estimate,'
'expect,' 'project,' 'intend,' 'plan,' 'believe,' 'will,' 'target,'
'forecast' and other words and terms of similar meaning in connection with
any discussion of future operating or financial performance or business
plans or prospects. Among the factors that could cause actual results to
differ materially are the following: (1) worldwide economic and capital
markets conditions and other factors beyond the Company's control,
including natural and other disasters affecting the operations of the
Company or its customers and suppliers;
(2) the Company's credit ratings and its cost of capital; (3) competitive
conditions and customer preferences; (4) foreign currency exchange rates
and fluctuations in those rates; (5) the timing and market acceptance of
new product offerings; (6) the availability and cost of purchased
components, compounds, raw materials and energy (including oil and natural
gas and their derivatives) due to shortages, increased demand or supply
interruptions (including those caused by natural and other disasters and
other events);
(7) the impact of acquisitions, strategic alliances, divestitures, and
other unusual events resulting from portfolio management actions and other
evolving business strategies, and possible organizational restructuring;
(8) generating fewer productivity improvements than estimated; (9)
unanticipated problems or delays with the phased implementation of a global
enterprise resource planning
(ERP) system, or security breaches and other disruptions to the Company's
information technology infrastructure; and (10) legal proceedings,
including significant developments that could occur in the legal and
regulatory proceedings described in the Company's Annual Report on Form
10-K for the year ended December 31, 2012 and its subsequent quarterly
reports on Form 10-Q (the 'Reports'). Changes in such assumptions or
factors could produce significantly different results. A further
description of these factors is located in the Reports under 'Cautionary
Note Concerning Factors That May Affect Future Results' and 'Risk Factors'
in Part I, Items 1 and 1A (Annual Report) and in Part I, Item 2 and Part
II, Item 1A (Quarterly Report). The information contained in this news
release is as of the date indicated. The Company assumes no obligation to
update any forward-looking statements contained in this news release as a
result of new information or future events or developments.
End of Corporate News
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Language: English
Company: SMARTRAC N.V.
Strawinskylaan 851
1077 XX Amsterdam
Netherlands
Phone: +31 20 30 50 157
Fax: +31 20 30 50 155
E-mail: investor.relations@smartrac-group.com
Internet: www.smartrac-group.com
ISIN: NL0000186633
WKN: A0JEHN
End of News DGAP News-Service
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218417 27.06.2013
DGAP-News: SMARTRAC N.V.: Neology and 3M Resolve Patent Litigation
| Source: EQS Group AG