FYI.
PPT VISION, INC. Enters Into Exclusive License Agreement for 3-D Scanning Technology
PR News Wire via Dow Jones
MINNEAPOLIS, Oct. 1 /PRNewswire/ -- PPT VISION, INC. (Nasdaq: PPTV) today
announced that it has entered into an exclusive worldwide license agreement with
Medar, Inc. (Nasdaq: MDXR), a Michigan based corporation, to use Medar's
patented, high-speed 3-D scanning technology for applications in the electronics
and semiconductor industries. Under the terms of the agreement, PPT VISION will
pay Medar an initial license fee of $1.5 million based on the achievement of
certain developmental milestones plus a royalty based on sales.
Joseph C. Christenson, the President of PPT VISION, indicated that this
acquisition of technology is a significant component to the Company's strategic
thrust to provide high-speed, application specific inspection systems for the
semiconductor and electronics industries. Mr. Christenson added that he
believed that this new high-speed, high-accuracy 3-D scanning technology will
enable the Company's Microelectronics Product Group to deliver products which
have significant competitive advantages.
On September 11th of 1997, PPT VISION, Inc. announced the creation of its new
Microelectronics Product Group to develop and market high-speed, application
specific inspection equipment for the electronics and semiconductor industries.
Forward Looking Statements
This press release, as it relates to expectations regarding future sales and
profitability, contains forward-looking statements regarding future performance
of the Company. The Company's actual results could differ materially from the
estimates made in the forward-looking statements as a result of a number of
factors, including (i) risks and uncertainty in the market for machine vision,
(ii) cyclicality of capital spending by customers, (iii) quarterly fluctuations
in operating results by the Company due to the long selling cycle for machine
vision products, (iv) the Company's continued ability to achieve significant
international revenue, (v) competition in the Company's principal markets, and
(vi) the Company's ability to continue to enhance its current products and
develop new products that keep pace with technological developments and evolving
industry standards. The foregoing list should not be construed as exhaustive
and the Company disclaims any obligation subsequently to revise forward-looking
statements to reflect events or circumstances after the date of such statements
or to reflect the occurrence of anticipated or unanticipated events. The
Company wishes to caution readers not to place undue reliance upon any such
forward-looking statement, which speak only as of the date made.
The Company's Common Stock trades on the Nasdaq National Market tier of The
Nasdaq Stock Market under the symbol PPTV.
/CONTACT: Tom Northenscold, Chief Financial Officer of PPT VISION,
612-996-9500, 612-996-9501 (fax), e-mail: tomn@pptvision.com/
18:00 EDT
9815 10/01/97 18:00 EDT HT
:TICKER: PPTV
:SUBJECT: LICN MN ELCO INDG
Copyright (c) 1997 PR Newswire
Received by NewsEDGE/LAN: 10/1/97 6:13 PM |
