The companies will undertake cooperative development activities, combining their respective technologies to create new product platforms to be offered by both companies, enabling each to deliver a powerful set of new RFID solutions to customers worldwide. In addition, Motorola Ventures, the strategic venture capital arm of Motorola, invested in the Series C financing round in Intelleflex along with new investor Arcapita Ventures.
Many of the most important emerging applications of RFID technology depend upon extended capability solutions, with features such as large user memory, long range operation, advanced security architectures, robust performance in difficult RF environments and sensors for environmental data capture of items like temperature exposure, commented Bob Sanders, vice president and general manager of Advanced Data Capture, Motorola Enterprise Mobility Solutions. By delivering these types of solutions, we will be able to better serve our customers in markets like cold-chain distribution and asset tracking. We chose to partner with Intelleflex because they have established themselves as the technology leader in this product category.
Over the past several years, RFID focus has shifted to closed loop applications, where individual business entities invest in technology to solution a targeted business problem. Many of these issues, such as high-value asset tracking, yard management, cold supply chain and parts maintenance require the features and performance of an extended capability RFID platform.
We are very excited about new business opportunities that will be enabled as a result of this relationship, said Mike Lowry, President of Lowry Computer Products. The combination of Motorolas RFID leadership and Intelleflex breakthrough extended capability RFID technology is compelling. It will allow us to deliver powerful new solutions to our current and future customers in automotive, food and drug, electronics, government, healthcare and other industry sectors.
Motorola and Intelleflex have commenced joint development work that will result in the release of new extended capability RFID products, by both companies, in 2008.
As part of the strategic relationship, Motorola Ventures co-led the Intelleflex Series C investment round with Arcapita Ventures. Existing Intelleflex investors Morgenthaler Ventures, Woodside Fund, Alloy Ventures and Selby Venture Partners also participated.
RFID continues to be a compelling technology and companies understand the security and efficiencies it brings to the infrastructure, said Reese Schroeder, managing director, Motorola Ventures. Intelleflex technology represents a new breed of RFID solutions that focus on extended capability in applications and Motorola Ventures believes that, given the growing variety of business challenges which RFID can help address, these solutions show a clear path to a return on investment. We look forward to this relationship and further extending RFID throughout multiple industries.
Richard Bravman, Intelleflex chairman, president and CEO said, We are delighted to enter into this relationship with Motorola, a recognized leader in RFID and enterprise mobility. By combining our extended capability technologies and experience with Motorolas innovative and complementary mobility and RFID technologies, both companies will be able to deliver more powerful and comprehensive solutions to a greater number of customers worldwide.
Motorola is known around the world for innovation and leadership in wireless and broadband communications. Inspired by our vision of seamless mobility, the people of Motorola are committed to helping you connect simply and seamlessly to the people, information, and entertainment that you want and need. We do this by designing and delivering "must have" products, "must do" experiences and powerful networks -- along with a full complement of support services. A Fortune 100 company with global presence and impact, Motorola had sales of US $42.8 billion in 2006.
Intelleflex is the leader in Extended Capability RFID solutions, products and technologies. Our Intelligent RFID Platform, comprising high performance multi-protocol tags and readers, enables solutions for asset tracking, vehicle / yard management, manufacturing WIP control, supply chain automation, parts maintenance, access control and other applications. It features range, reliability, memory capacity and security far beyond standard passive RFID, and at a fraction of the cost of active.