SIRIT Technologies Announces Technology Collaboration With Intel Corporation
MISSISSAUGA, ONTARIO--(CCNMatthews - Jun 28, 2004) -
Companies to collaborate on Radio Frequency Identification (RFID)
technology development
SIRIT Technologies, a wholly-owned subsidiary of SIRIT Inc.
(TSX:SI) and leading provider of radio frequency identification
(RFID) reader technology, today announced that it signed an
agreement with Intel Corporation (NASDAQ:INTC) to collaborate on
RFID reader technology development.
The companies will work together to help accelerate the
deployment of standards-based building block technology for RFID
readers to end users and OEM technology vendors. The agreement
includes certain technology licensing and commercial sales
components, though the specific terms of the agreement remain
confidential.
"RFID readers are an important, emerging enterprise platform that
incorporates computing, radio, and networking capabilities," said
Angela Biever, general manager of Intel Capital's New Business
Initiatives. "SIRIT and Intel are working toward a
standards-based platform architecture for intelligent readers
that will serve supply chain management and other emerging RFID
applications. Intel is very pleased to be working with SIRIT,
which we believe has a good track record of developing and
delivering RFID reader technology."
"We are proud and honored to have been selected for this
initiative, based on our proven expertise and capabilities in
RFID reader technology," stated William Staudt, CEO of SIRIT.
"SIRIT eagerly looks forward to working closely with Intel in
this collaboration."
About SIRIT
Founded in 1993, SIRIT is a leading provider of Radio Frequency
Identification ("RFID") solutions to customers worldwide. The
company designs, manufactures, integrates and sells RFID
solutions with an emphasis on two vertical markets; Supply Chain
Management ("SCM") and Automatic Vehicle Identification ("AVI").
The SCM business unit focuses on supply chain and logistics
management solutions while the AVI business unit focuses on
revenue collection systems such as tolling, including state of
the art High Occupancy Tolling solutions, and access control.
Following its years of success in deploying traditional RFID
products, SIRIT continues to capitalize on the growing demand for
next generation RFID solutions. SIRIT trades on the Toronto Stock
Exchange under the symbol SI and has approximately 88 million
shares outstanding. For more information, visit www.sirit.com.
This news release includes forward-looking statements that are
based on certain assumptions and reflect SIRIT's current
expectations. These forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results
or events to differ materially from current expectations.
Additional factors are discussed in SIRIT's filings with the
securities regulatory authorities in Canada. SIRIT disclaims any
intention or obligation to update or revise any forward-looking
statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
The Equicom Group
Craig Armitage
Senior Account Executive
(416) 815-0700 x246
carmitage@equicomgroup.com
or
SIRIT
Fred Veinot
Vice President
(800) 498-8760 x225
fveinot@sirit.com
www.sirit.com |
