INSIDE Secure to Sign a New NFC Technology and IP License Agreement with Intel

  • Extension of INSIDE Secure’s existing license to Intel into a broad and fully paid up license
  • Transfer of INSIDE Secure’s next generation NFC modem technology to Intel
  • Transaction of US$ 19.2 million in cash, strongly accretive to earnings in 2014, and expected to close during Q2 2014
  • In line with INSIDE Secure’s strategy to focus on embedded security solutions for mobile and connected devices as well as leverage and monetize its NFC technology and intellectual property rights

AIX-EN-PROVENCE, France — (BUSINESS WIRE) — April 1, 2014 — INSIDE Secure (NYSE Euronext: INSD), a leader in embedded security solutions for mobile and connected devices, today announced it intends to enter into a new agreement with Intel Corporation, building on the relationship initiated with their NFC technology license agreement in 2011.

Under the terms of the contemplated agreement, INSIDE Secure would:

  • extend the current worldwide, perpetual license into a broad, royalty-free and fully paid-up license, with INSIDE Secure retaining ownership of most of the related IP assets and rights
  • transfer to Intel its MicroRead-v5 next-generation NFC hardware and software modem technology currently under development together with certain related tangible and intangible assets, including certain IP assets
  • receive from Intel US$ 19.2 million in cash at closing

Moreover, Intel would offer employment to certain INSIDE Secure employees based in France and California.

The execution of the agreements is intended to take place upon completion of an “information and consultation” process with INSIDE Secure’s works council in France and is subject to customary signing and closing conditions.

The transaction is expected to be strongly accretive to INSIDE Secure’s earnings in 2014, both thanks to the license revenue and on-going reduction in operating expense.

This transaction is fully in line with INSIDE Secure’s strategy:

  • to focus on high added value embedded security solutions for mobile and connected devices through its Mobile Security and Secure Transactions divisions;
  • to address the NFC market through licensing programs;
  • to continue supporting its legacy microcontroller NFC business and existing customers, and;
  • to pursue the development of other hardware platforms for mobile and other connected devices. In particular, the Group plans to continue to develop the NFC booster front end PicoPulse™.

Rémy de Tonnac, Chief Executive Officer of INSIDE Secure, stated: "We are very pleased with this new strategic agreement with Intel. It demonstrates the ability of INSIDE Secure to develop cutting edge technology and IP that major semiconductor companies can integrate in their offering. It will also contribute to increasing our strategic focus on embedded security solutions for mobile and connected devices.”

Aicha Evans, Corporate Vice President and General Manager of the Wireless Platform Research and Development Group in the Platform Engineering Group of Intel, said: “Over the last two years, we have been impressed by the technology, deliverables and the professionalism of INSIDE Secure. Intel will continue with this NFC technology in support of our wireless product roadmap.

About INSIDE Secure

INSIDE Secure (NYSE Euronext Paris FR0010291245 – INSD) provides comprehensive embedded security solutions. World-leading companies rely on INSIDE Secure’s mobile security and secure transaction offerings to protect critical assets including connected devices, content, services, identity and transactions. Unmatched security expertise combined with a comprehensive range of IP, semiconductors, software and associated services gives INSIDE Secure customers a single source for advanced solutions and superior investment protection. For more information, visit www.insidesecure.com.

Forward-looking statements

This press release contains certain forward-looking statements concerning the INSIDE Secure group. Although INSIDE Secure believes its expectations to be based on reasonable assumptions, they do not constitute guarantees of future performance. The Group's actual results may accordingly differ materially from those anticipated in these forward-looking statements owing to a number of risks and uncertainties. For a more detailed description of these risks and uncertainties, please refer to the "Risk Factors" section of the annual financial report of April 24, 2013, available on www.insidesecure.com .

1 | 2  Next Page »



Review Article Be the first to review this article
SI2

ClioSoft: Design Hub

Featured Video
Editorial
Peggy AycinenaIP Showcase
by Peggy Aycinena
Grant Pierce: Grand Challenges in IP
More Editorial  
Jobs
Technical Support Engineer for EDA Careers at Freemont, CA
LVS for PDK Design Engineer SILICON VALLEY for EDA Careers at San Jose, CA
LVS PEX DESIGN ENGINEERS SILICON VALLEY for EDA Careers at San Jose, CA
Upcoming Events
EMC PCB Design Integration at 13727 460 Ct SE North Bend WA - Jun 6 - 9, 2017
DAC 2017 Conference at Austin TX - Jun 18 - 22, 2017
2017 FLEX Conference at Monterey Conference Center 1 Portola Plaza, Monterey CA - Jun 19 - 22, 2017
MPSoc Forum 2017 - July 2 - 7, 2017, Les Tresoms Hotel, Annecy, France at Les Tresoms Hotel Annecy France - Jul 2 - 7, 2017
NEC: CyberWorkbench
ClioSoft
DAC2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy