Innovision announces a Joint Marketing and License Agreement

Update: Broadcom Acquired Innovision Research & Technology PLC in July 2010

April 21, 2009 -- Innovision Research & Technology plc is pleased to announce that it has signed an agreement with a major European semiconductor company to market Innovision's NFC Intellectual Property ("IP") in combination with their products and IP for use by third party customers. In conjunction with the successful marketing, they will licence Innovision's Gem(TM) NFC Technology.

This agreement replaces a previous framework agreement between the two companies relating to the provision of development services by Innovision. As referred to in the interim results released on 19 December 2008, the customer's business experienced business changes which removed the requirement for the projects anticipated under the previous framework agreement and this has continued to significantly impact Innovision's revenues for the full year.

David Wollen, Chief Executive Officer, said: "We are excited by the prospects this agreement will open up to Innovision. When we announce the joint marketing to the trade, the endorsement of our IP from one of the founders of NFC and the opportunity to offer a combined solution of hardware, software and other products will give both companies a great market offering"

About Innovision Research & Technology plc

Innovision Research & Technology plc, is leading the next generation of NFC/RFID solutions. As the leading fabless developer of Short-Range Data Communication semiconductor and system solutions, with particular focus on NFC/RFID (Radio Frequency Identification) and ultra low-cost Integrated Circuit (IC) and RF electronic design, IRT is pushing cost performance to enable clients to get maximum utility for minimum cost.
The company develops innovative semiconductor technologies, ICs, RF systems (HF/UHF) and complete end product applications for mass volume commercialisation and then licenses customers for its incorporation into their own products.
At the heart of the emerging Near Field Communication (NFC) market, Innovision R&T designs and develops NFC/RFID IC solutions for the global mobile handset and consumer device sectors.
Products include Topaz, mandated by the NFC Forum as the NFC number one tag type format, Jewel for mass transit ticketing applications, and io, the world's smallest standards compatible Near-Field RFID reader.
Headquartered in the UK, Innovision R&T was listed in 2001 on the Alternative Investment Market (AIM) of the London Stock Exchange (ticker symbol:INN).