Business
Purchase of Pneu-Logic Intellectual Property (I...
Purchase of Pneu-Logic Intellectual Property (I....
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \n\n\n\nTransense Technologies plc (the 'Company' or 'Transense')\n\n23rd November 2009\n\nRe Purchase of Pneu-Logic Intellectual Property (IP) and Trading Name\n\nFurther to the recent announcement of 8th June 2009, regarding the\nagreement to distribute the Bluetooth enabled tyre inspection tools\nmanufactured by Pneu-Logic, Translogik Limited ('Translogik'), the\nwholly owned subsidiary of Transense, is pleased to announce the\npurchase of the IP relating to these tools and the trading name of\nPneu-Logic. Translogik has paid an initial amount of £50,000 and\nadditional payments will be made, subject to sales volumes, up to an\nagreed maximum total consideration.\n\nThis agreement enables Translogik to gain complete control of the\nmanufacture and distribution of these tools and reduce the cost of\nsales. Pneu-Logic will continue to manufacture the probes in the near\nterm in order to effect an orderly handover. Translogik is in ongoing\nnegotiations to move production to a highly respected, mid-sized; UK\nbased engineering company which has additional facilities in China.\n\nGraham Storey, Transense CEO, said \"The recent series of price rises\nin tyres and fuel has brought these costs into sharp focus within the\nincreasingly competitive fleet service providers market. Prolonging\nthe life of tyres is a critical element in maintaining profitability\nfor fleet management operations. Our range of tyre management\nsolutions provide our customers with a rugged, high quality, cost\neffective tool, for maximising the life of their tyres. In addition\nto the recent Goodyear rollout, we have received additional orders\nfrom around the world for our expanding suite of data collection\ntools.\n\nWe are delighted to have secured this acquisition; these tools form\nan integral part of our overall strategy for the Off the Road (OTR)\nand commercial truck fleet markets, and this agreement gives us\nconsiderable additional flexibility in executing our future expansion\nplans\".\n\nGeorge Yeomans, CEO of Pneu Logic said \"Integrating our data\ncollection tools into a solution which will additionally incorporate\nan RFID reader and SAW (Surface Acoustic Wave) TPMS sensor reader is\nexactly what the market has been demanding. I am convinced this will\nbe a huge success\".\n\n\nContacts:\n\nTransense Technologies PLC\nGraham Storey 01869 2...