OSLO, Norway, January 21, 2015 - Thin Film Electronics ASA ("Thinfilm") (OSE: THIN.OL), a leader in the development and commercialization of printed electronics and smart systems, today announced a strategic partnership with Xerox (NYSE: XRX), the global business services, digital printing, and document management company.
As a core element of the agreement, Xerox has licensed Thinfilm's proprietary technology to manufacture Thinfilm Memory labels - the only printed, rewritable memory commercially available today. Xerox will develop a marketing strategy targeted to key customers.
"This partnership with Xerox - a technology pioneer with a deep history of innovation and thought leadership - marks a critical milestone in Thinfilm's strategic roadmap," said Davor Sutija, Thinfilm's chief executive officer. "We're pleased that Xerox shares Thinfilm's vision regarding the future of printed electronics, and we look forward to working alongside them in delivering cost-effective, scalable intelligence to the market."
"The demand for low-cost, non-conventional electronic solutions is real and it's growing," said Steve Simpson, vice president, non-Xerox Supplies Business. "By partnering with Thinfilm, we are leveraging our deep manufacturing expertise and ability to scale globally in order to participate in exciting new markets adjacent to our core business
Peter Fischer, chief product officer for Thinfilm, will lead the technology transfer initiative. To produce the memory labels, Xerox will modify a production line in one of its existing facilities in Webster N.Y.
About Thin Film Electronics ASA
Thinfilm is a leader in the development of Printed Electronics. The first to commercialize printed, rewritable memory, the Company is creating printed systems that include memory, sensing, display, and wireless communication, all at a low cost unmatched by any other electronic technology. Thinfilm's roadmap integrates technology from a strong and growing ecosystem of partners to enable the Internet of Everything by bringing intelligence to disposable goods.
Thin Film Electronics ASA ("Thinfilm") is a publicly listed Norwegian company with headquarters in Oslo, Norway; product development and production in Linköping, Sweden; product development, production, and business development in San Jose, California, USA; and sales offices in the United States, Japan, and Singapore.
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For more information on Thinfilm please contact:
Bill Cummings Jennifer Smith
Thin Film Electronics ASA Blanc & Otus for Thin Film Electronics ASA
VP, Marketing & Communications +1 415 856 5152
+1 408-503-7312 jsmith@blancandotus.com
bill.cummings@thinfilm.no www.blancandotus.com