Texas Instruments invests in ParkerVision (PRKR)announced an agreement with Texas Instruments (TI) to develop advanced RF solutions that enable enhanced wireless connectivity, while reducing system size, cost, and overall power consumption in the next generation of wireless handsets.
"In conjunction with the agreement, TI has purchased 83,451 shares of ParkerVision restricted common stock, at $29.96 per share, which is the average of the daily closing price of ParkerVision common stock for the ten trading days ending March 7, 2001. Also, ParkerVision has granted 41,725 warrants with an exercise price of $29.96 per share, 20,863 warrants with an exercise price of $37.45 per share, and 20,863 warrants with an exercise price of $39.84 per share."
ParkerVision Announces Development and Foundry Agreement With Texas Instruments for Advanced D2D Wireless RF Technology
JACKSONVILLE, Fla., March 9 /PRNewswire/ -- ParkerVision (Nasdaq: PRKR) today announced an agreement with Texas Instruments (TI) to develop advanced RF solutions that enable enhanced wireless connectivity, while reducing system size, cost, and overall power consumption in the next generation of wireless handsets.
Under the terms of the agreement, the companies will jointly develop interfaces between ParkerVision's next generation RF transceivers based on Direct2Data(TM) (D2D)(TM) technology and TI's digital baseband chipsets. The agreement also provides for Texas Instruments' foundry services for ParkerVision wireless integrated circuits (IC) using TI's advanced semiconductor process technology. D2D is an innovative approach to processing RF signals, designed to enable efficient, high-performance direct conversion radios that eliminate the need for the intermediate frequency (IF) circuitry used in conventional RF designs.
"This collaboration is an important milestone in the development of high- performance RF solutions using ParkerVision's advanced D2D technology," said Jeff Parker, CEO of ParkerVision. "TI is the leading supplier of DSP and analog-based silicon solutions to the wireless industry, and we are very excited about our relationship with the company. We look forward to the successful implementation of D2D-based transceivers which closely interface with TI's programmable DSP-based wireless solutions."
ParkerVision's initial collaboration with TI will focus on chipsets for wireless networking and next generation, digital wireless handsets.
"Next generation RF solutions will require greater system integration, performance and power efficiency in order to support the market's demand for broadband-enabled, wireless data services," said William Krenik, Director of Advanced Architecture, Texas Instruments Wireless Business Unit. "ParkerVision's D2D transceiver technology represents a differentiated approach to delivering direct conversion and Zero IF system architectures for a range of wireless technologies including 2.5 and 3G handsets, Bluetooth and 802.11."
ParkerVision Chief Technical Officer, David F. Sorrells, commented, "ParkerVision believes that the combination of TI's leading-edge manufacturing processes with our advanced D2D radio technology will enable ParkerVision to create RF platforms of the highest quality that will result in unparalleled wireless solutions for the wireless communications marketplace. ParkerVision believes our D2D technology will emerge as a compelling solution for challenging next generation wireless where the benefits of direct conversion must be delivered without the historical compromises."
In conjunction with the agreement, TI has purchased 83,451 shares of ParkerVision restricted common stock, at $29.96 per share, which is the average of the daily closing price of ParkerVision common stock for the ten trading days ending March 7, 2001. Also, ParkerVision has granted 41,725 warrants with an exercise price of $29.96 per share, 20,863 warrants with an exercise price of $37.45 per share, and 20,863 warrants with an exercise price of $39.84 per share.
Texas Instruments Incorporated is the world leader in digital signal processing and analog technologies, the semiconductor engines of the Internet age. The company's businesses also include sensors and controls, and educational and productivity solutions. TI is headquartered in Dallas, Texas, and has manufacturing or sales operations in more than 25 countries.
ParkerVision, headquartered in Jacksonville, Florida, designs, develops and manufactures communications technology platforms and products for the wireless and video industries. ParkerVision is a leader in direct conversion radio technology. Its patented D2D(TM) radio communications technology enables the development of advanced, highly integrated products for a wide range of wireless and wired radio-based devices. D2D's innovative RF technology radically simplifies wireless electronics, resulting in smaller, cost-effective, high-performance wireless communications products. Additional information about ParkerVision is available at www.parkervision.com and about D2D technology at www.d2d.com.
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speak only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10K for the year ended December 31, 1999, and the Forms 10Q for the quarters ended March 31, 2000, June 30, 2000, and September 30, 2000. These risks and uncertainties could cause actual results to differ materially from those presently anticipated or projected.
SOURCE ParkerVision, Inc.
CO: ParkerVision, Inc.; Texas Instruments
ST: Florida, Texas
IN: CPR TLS
SU: JVN
03/09/2001 08:10 EST prnewswire.com |
