Neology and 3M Resolve Patent Litigation
Neology and 3M Resolve Patent Litigation
AMSTERDAM, THE NETHERLANDS and ST. PAUL, MN and SAN DIEGO, CA -- (Marketwired) -- 06/27/13 -- SMARTRAC N.V. (FSE: SM7) 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
SMARTRACÂ® is a leading developer, manufacturer, and supplier of RFID and NFC transponders and inlays and owns a vast RFID patent portfolio. 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, went public in July 2006, and trades as a stock corporation under Dutch law with its registered headquarters in Amsterdam. The company currently employs approximately 3,600 employees and maintains a global research and development, production, and sales network.
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.
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.
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.
Neology and the Neology logo are trademarks Neology, Inc. Copyright 2011
Neology, Inc. All rights reserved.
Mark McFarlin Neology Inc. Vice President, Sales & Marketing Phone: 858-391-0260 x126 email@example.com www.neology-rfid.com
Tanja Moehler SMARTRAC and Neology Head of Corporate Communications & Marketing SMARTRAC N.V. Phone: +31 20 30 50 157 Email: firstname.lastname@example.org Internet: www.smartrac-group.com Twitter: www.twitter.com/SMARTRAC_NV
Donna Fleming Runyon 3M Phone: 651-736-7646