Sirit to be multi-year supplier of embedded NFC software and services
for mobile handsets
TORONTO, June 5 /CNW/ - Sirit Inc. ("Sirit") (TSX: SI), a leading provider of radio frequency identification (RFID) technology, announced today that it has secured a Near Field Communications (NFC) contract with BenQ Corporation ("BenQ"), one of the world's largest consumer electronics original equipment manufacturers (OEM).
The contract calls for Sirit to serve as BenQ's supplier of embedded NFC software and technology engineering services for BenQ's forthcoming NFC mobile smartphones and handsets. This design win further validates the value proposition and expertise of Sirit's NFC team in helping OEMs shorten their development cycles and time to market for NFC-enabled devices.
"Given the significant and immediate opportunity for NFC handsets in the Asia Pacific region and globally, time to market is critical to our success," said Dr. SS Chen, the Associated Vice President of Mobile Communication Business Group of BenQ Corporation. "We chose Sirit's NFC team to help us in our development of NFC handsets based on their early involvement in the NFC market. Leveraging their demonstrated expertise with embedded NFC software and successes working with OEMs, we are confident in the Sirit's NFC team's ability to help accelerate our time to market."
"BenQ is a multi-billion dollar Taiwan-based technology innovation leader, supplying mass-market consumer devices including smartphones, displays, and digital home peripherals," commented Chris Leong, Vice President, NFC and Contactless at Sirit Inc. "We are honoured that BenQ has chosen Sirit's NFC team as its supplier of embedded NFC software and services. We look forward to helping BenQ capitalize on the NFC opportunity in the Asia Pacific region and beyond."
About Sirit Inc.
Sirit Inc. (TSX: SI) is a leading provider of Radio Frequency Identification (RFID) solutions worldwide. 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 contactless 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.
"Sirit", the Sirit Design and "vision beyond sight" are all trademarks of Sirit Inc. All other names of actual companies and products mentioned herein may be the trademarks of their respective owners.