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Wednesday, 20 October 2010 00:00 |
Transense & SenGenuity Announce Formation of New Joint Venture Company
Transense Technologies plc, the AIM-listed technology transfer company that
develops Surface Acoustic Wave (SAW) based wireless, batteryless sensor systems
for the automotive and other industries, together with SenGenuity, the sensors
division of Vectron International Inc.,a division of Dover Corporation
(NYSE:DOV) are pleased to announce the formation of a new joint venture (JV)
company.
The joint venture company, Bulldog Innovations Limited ("Bulldog Innovations"),
is a 50/50 partnership between Transense and SenGenuity that will enable closer
cooperation in order to accelerate the development of specific applications
based on the companies' existing technologies.
The two parties have worked together since July 2008, when SenGenuity was
granted an initial licence to manufacture Transense's temperature and pressure
sensor. This initial licence was then extended to include use of Transense's
patented wireless reader electronics. SenGenuity has leveraged this technology
toward the development of a series of breakthrough wireless and passive
temperature & pressure sensing systems. These products are currently rolling out
to the worldwide market in a variety of application areas, notably in the Smart
Grid space for monitoring of critical switchgear systems.
Transense is already in receipt of modest, but steady, royalty flows from
SenGenuity. The Board of Transense looks forward to the deepening of the
collaboration between the two companies and further accelerating the rate at
which more meaningful royalty revenue will be forthcoming.
Graham Storey, Chief Executive of Transense Technologies PLC, commented:
"I am delighted we are extending our relationship with SenGenuity through the
creation of Bulldog Innovations. The targeted market opportunities identified
by SenGenuity, to leverage the synergies of our combined technologies, represent
a significant and exciting revenue growth prospect. The JV will allow us to
exploit these markets as quickly as possible. I look forward to the continued
expansion of our patented technology platform, in joint development with
SenGenuity, to our mutual benefit."
Tom Cunneen, General Manager of SenGenuity, a division of Vectron International
commented:
"The partnership with Transense has proven to be a key strategic element in the
execution of SenGenuity's business plan, allowing us to broaden our product
portfolio while accelerating time-to-market for this technology. SenGenuity's
physical sensor products & systems offer breakthrough solutions in application
areas where existing/legacy technology has not adequately fulfilled the market
need. The JV with Transense will serve to enhance the successes we have
experienced to date."
For more information, please contact:
Transense Technologies PLC Tel: +44 (0) 1869 238 380
Graham Storey, Chief Executive
SenGenuity
Richard Kelley, Director of Sales & Marketing Tel: +1 603 578 4071
Brewin Dolphin - Nomad
Neil Baldwin Tel: +44 (0) 845 213 4726
Hybridan LLP - Broker
Claire Noyce Tel: +44 (0) 207 947 4350
Peckwater PR
Tarquin Edwards Tel: +44 (0)7879 458 364
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
About SenGenuity
SenGenuity, an operating division of Vectron International, is a leading
provider of breakthrough sensor solutions and products. As part of its growing
product portfolio, SenGenuity delivers to customers innovative solutions for
measuring the condition of fluids in challenging, embedded environments by
coupling its state-of-the-art precision sensor solutions with Vectron's surface
and bulk acoustic wave (SAW and BAW) technology. Further, SenGenuity is
leveraging its core competencies in AW technology along with extensive
experience in radio frequency (RF), signal conditioning, embedded system
electronics design and advanced packaging technologies to drive the development
of breakthrough solutions for gas and physical sensing applications.
Dedicated to taking a leadership role in the $50 billion sensor market,
SenGenuity is continually designing and manufacturing innovative sensing
solutions that can be used across a broad range of industries, and are rapidly
becoming the new standard for performance and reliability in critical data
gathering applications. For more information visitwww.sengenuity.com.
About Vectron International
Vectron International is a world leader in the design, manufacture and marketing
of frequency control, sensor, and hybrid product solutions. Vectron solves
complex timing, filtering and sensor challenges by delivering customized
solutions that speed time to market and offer low total cost of ownership.
Vectron uses the very latest techniques in both bulk acoustic wave (BAW) and
surface acoustic wave (SAW) based designs from DC to microwave frequencies.
Committed to the industry's highest quality service standard and complete
satisfaction, Vectron International leverages its global footprint and 50 years
of experience to help customers achieve competitive differentiation and improve
their bottom line. Vectron International is headquartered in Hudson, NH and has
operating facilities and sales offices in North America, Europe and Asia. For
more information visitwww.vectron.com.
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