26 March 2017
Visit EBAday.com

Inside Secure plans new NFC tech license agreement with Intel

01 April 2014  |  2048 views  |  0 Source: Inside Secure

Inside Secure (NYSE Euronext: INSD), a leader in embedded security solutions for mobile and connected devices, today announces it intends to enter into a new agreement with the Intel Corporation, building on the relationship initiated by 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 USD 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, thanks to both 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
• 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(TM)

Remy de Tonnac, chief executive officer of INSIDE Secure, said: "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 into 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." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit abe-eba.euVisit capgemini.com

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57250 views comments | 15 tweets | 35 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
9178 views comments | 42 tweets | 25 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8743 views comments | 23 tweets | 37 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
7182 views comments | 22 tweets | 15 linkedin
Westpac wants to take over your messaging keyboardWestpac wants to take over your messaging...
7166 views comments | 4 tweets | 10 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job