Subject: NCTI Subsidiary Licenses Java Chip Technology to Infinite Tech Corp. for $6 Million
Seems like a PTSC competitor...
Steve
Wednesday May 10, 1:31 pm Eastern Time
Company Press Release
NCTI Subsidiary Advancel Licenses Java Chip Technology to Infinite Technology Corporation for $6 Million
STAMFORD, Conn.--(BUSINESS WIRE)--May 10, 2000--NCT Group, Inc. (OTCBB: NCTI - news) wholly-owned subsidiary Advancel Logic Corporation today announced a license agreement with Infinite Technology Corporation (``ITC''). Under this agreement, Advancel grants ITC exclusive rights to create, make, market, sell and license products and intellectual property based upon Advancel's Java Turbo-J(TM) technology. The agreement also grants ITC non-exclusive rights to Advancel's Java smart card core. ITC will make custom chips for customers that need to combine DSP and Java technology into their Internet-ready products. In consideration for this license, NCTI will receive $6 million in Infinite stock and on-going unit royalties.
``Working with ITC will help advance the development of Java-based solutions,'' said Michael Parrella, President and CEO, NCTI. ``The market potential is significant and we look forward to using these chips as platforms upon which we can deliver NCT's advanced technologies.''
``This agreement will enable us to combine our RADcore(TM) DSP cores with Java Turbo-J technology to rapidly offer system-on-chip (SoC) solutions to the imbedded Internet device markets,'' said Tim Smith, Chairman and CEO,
ITC. ``Moreover, we will now be able to deliver unique SoC solutions with smaller silicon area, higher performance and faster time-to-market for our customers, a critical factor in these fast growing and fiercely competitive markets.''
Forward Concepts, Tempe, Arizona, forecasts DSP shipments will continue to outpace the overall semiconductor industry and has revised its year 2000 forecast upward to 40%-- to the $6.1 billion level. This is revised from the previous 32% projection. Worldwide DSP chip shipments are expected to
grow to $19.2 billion by 2004, a compounded annual growth rate (CAGR) of 34.4 percent.
Infinite Technology Corporation, based in Richardson, Texas, is the SemiConductor Original Publishing Enterprise specializing in the design, manufacturing and marketing of digital signal processing (DSP) solutions to create system-on-chip products utilizing its proprietary RADcore(TM) Technology. Founded in 1991, ITC also provides integrated circuit design services and software development. More information can be found at infinite-tech.com or by phone at 972-437-7800.
Advancel Logic Corporation, a wholly-owned subsidiary of NCT Group, Inc. located in San Jose, California. Advancel is a developer of algorithm-specific microprocessor cores with native Java execution. The company offers a family of highly-optimized processors for embedded applications. For more information, refer to the company's World Wide Web
site at advancel.com.
NCT Group, Inc. is a leading technology developer with an extensive portfolio of proprietary algorithms and a wide variety of product offerings for consumer, commercial and industrial applications. The company specializes in the utilization of sound and signal waves to reduce noise, improve signal-to-noise ratio and enhance sound quality. For more information, refer to the company's World Wide Web site at nct-active.com.
Cautionary Statement Regarding Forward-Looking Statements
Certain information contained in this press release are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995 (the ``Act''), which became law in December 1995. In order to obtain the benefits of the ``safe harbor'' provisions of the Act for any such
forward-looking statements, the Company wishes to caution investors and prospective investors about significant factors, which among others, have in some cases affected the Company's actual results and are in the future likely to affect the Company's actual results and cause them to differ
materially from those expressed in any such forward-looking statements.
Investors and prospective investors should read this press release in conjunction with the Company's most recent Form 10-K and Forms 10-Q.
Java and all Java-based trademarks and logos are trademarks or registered trademarks of Sun Microsystems, Inc. in the U.S. and other countries.
RADcore is a trademark of Infinite Technology Corporation
-----------------------------------------------
Contact:
NCT Group, Inc.
Joanna Lipper, (203) 226-4447 ext. 3506
(203) 226-3123 (fax)
jlipper@nct-active.com
or
Infinite Technology Corporation
Robert L. Veal, (972) 437-7833
(972) 437-7810
les_veal@itc-usa.com |
