Business
Agreement with Lear Corp.
Agreement with Lear Corp..
About this update from Transense Technologies Plc
[{"type":"text","content":"\n Transense Technologies PLC\n22 September 2006\n\nTransense Technologies plc\n\nJoint development agreement with Lear Corp.\n\nTransense Technologies plc has signed a non-exclusive licence agreement with\nLear Corporation, a $19 billion tier 1 supplier to the automotive industry, to\nintegrate Transense's batteryless tyre pressure monitoring system (TPMS)\ntechnology with Lear's remote keyless entry receiver (RKE) technology.\n\nJim Perry, Chief Executive of Transense said last night: 'Lear is a pioneer of\nRKE technology and is the world leader in these systems, with an estimated 60%\nof the market. It also supplies 10 million battery-based TPMS systems a year,\nwhich we believe represents approximately 15% of the current market.'\n\nLast night Lear released the following announcement:\n\n\n'Lear Corp. Announces Joint Development Agreement with Transense for Batteryless\n Tire Pressure Monitoring Systems\n\n\nSouthfield, Mich., September 21, 2006 - Lear Corporation (NYSE:LEA) today\nannounced that it has signed a license agreement with Transense Technologies plc\nto integrate Transense's batteryless tire pressure monitoring system (TPMS)\ntechnology with Lear's remote keyless entry receiver (RKE) technology.\nFinancial terms were not disclosed and Lear's agreement with Transense does not\naffect an existing joint development agreement Lear has with Beru for TPMS.\n\nUnder terms of the agreement, Lear and Transense will work closely together to\nintegrate Transense's batteryless surface acoustic wave (SAW) TPMS technology\nwith Lear's remote keyless entry receiver technology. The two companies have\nrecently worked together on the development of two functional North American\nvehicle prototypes equipped with the batteryless Transense TPMS systems.\n\n'Lear is a world leader in RKE technology as well as a significant provider of\nTPM systems to the automotive market,' said Mike Fawaz, vice president,\nElectronics Design & Development for Lear Corporation. 'Transense's SAW-based\nsensor technology is a game changer and will advance the next generation system\nto meet government regulations in a more environmentally friendly manner,\nsatisfying customer and consumer needs.'\n\nThe Transportation Recall Enhancement, Accountability and Documentation (TREAD)\nACT mandates the use of a suitable TPM technology in all passenger veh...