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Contract with global mobile handset manufacturer a significant win
for Sirit's NFC software and engineering services
TORONTO, Feb. 27 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading provider of Near Field Communication ("NFC") and radio frequency identification ("RFID") technology, announced today that it has been selected by Kyocera Technology Research Corp. (KTRC) to supply NFC software and technology engineering services. KTRC, Kyocera's advanced-technology research arm, will make the NFC technology available for new wireless handsets from Kyocera Wireless Corp. (KWC), a leading global supplier of CDMA wireless devices and accessories.
The contract represents a strategic win for Sirit's Mobile NFC Platform ("Sirit MNP") software and related NFC engineering services, which are designed to help OEMs shorten their development cycles and time to market for NFC-enabled mobile handsets.
NFC technology is a short range wireless connectivity method, co-invented by NXP (a top 10 semiconductor company), and poised to become a standard feature on mobile phones. NFC-enabled mobile phones are expected to drive revolutionary applications (e.g. mobile payments, ticketing, etc.), create new revenue streams, and provide differentiation for mobile handsets.
Sirit's MNP is a package of Java-based embedded software stacks and specifications (JSRs) (powered by NXP Software's J-Ware NFC SW) that provide mobile phones with a rich set of NFC functionality and an environment to which mobile applications can be easily integrated. KWC's forthcoming NFC mobile handsets will be deployed with Sirit's MNP.
In addition, Sirit will also supply custom engineering services to KTRC to potentially integrate the Sirit MNP to KWC's handset platforms.
"KTRC is dedicated to identifying and developing the advanced technologies that will enhance the relationships between consumers and the mobile phones of tomorrow," said Terry Lingren, Vice President of Engineering at KTRC. "NFC is a feature that offers ultimate convenience and could help to reshape the retail experience. We will leverage Sirit's technological expertise and strong engineering support capabilities to accelerate the availability of NFC in Kyocera handsets."
"Kyocera is a global innovator of mobile handsets," commented Chris Leong, Vice President, NFC and Contactless at Sirit Inc. "We are honored that Kyocera has chosen Sirit's complete package of NFC technology and services to power their NFC handset efforts, and look forward to supporting KWC as these innovative devices are rolled out."
To learn more about Sirit's NFC capabilities, please contact Chris Leong, VP NFC and Contactless of Sirit at cleong@sirit.com or +1-646-321-6020.
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) and Near Field Communication (NFC) technology. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 13 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Sirit's broad portfolio of products and capabilities are easily customized to address new and traditional RFID market applications including Near Field Communication, Supply Chain & Logistics, Cashless Payment (including Electronic Tolling), Access Control, Automatic Vehicle Identification, Inventory Control & Management, Asset Tracking and Product Authentication.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Sirit to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ materially from those indicated by these forward-looking statements as a result of risks and uncertainties impacting Sirit's business which are discussed in the section entitled "Description of the Business - Risks Factors" in Sirit's Annual Information Form dated March 16, 2006 as filed with the securities regulatory authorities in Canada via SEDAR. Although Sirit has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended.
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