Pricer AB (publ) and Ishida Co Ltd have signed a key strategic 7 year license agreement giving Ishida the right to develop new wireless display devices based on Pricer´s intellectual property and communication platform for the Japanese and Korean market. Pricer will receive an upfront payment for this right of about SEK 14M followed by an additional SEK 21M based on certain milestones. Pricer will also receive a volume related royalty. It is expected that these new devices will be launched within the next two years.
We are pleased that our longstanding relationship with Ishida has led to this license agreement”, says Jan Forssjö, CEO of Pricer AB. “It will further strengthen the tie between our two companies as we drive the ESL industry. In addition, this will provide the Pricer Group with access to alternative products as well as adding a source of income.”
In 2005, Pricer was the first to launch bi-stable graphic displays supported by the IR platform technology. Today, Pricer delivers bi-stable graphic display devices to grocery retailers as part of their standard ESL offering in over 20 countries. Jan Forssjö said “This deal represents a step to fully exploit our IP even further, and it gives Pricer the right to market and sell the developed products in markets outside of Japan.”
Bi-stable pixel based graphic displays are gaining retail attention as the technology enables full product and price information including graphics and bar codes at the point of decision. As the displays are pixel based versus existing segment based displays, the new technologies require a very fast and scalable wireless network, supporting over fifty thousand devices in one environment with thousands of information updates daily. A challenge that Pricer bi-stable platform has proven to support. Pricer’s bi-stable technology is perfectly suitable for wireless shelf edge display given its zero power needs, as energy is only required when the display is updated, and its wide angle view quality.
For the last ten years Ishida has been the Pricer ESL Systems reseller in Japan. Further, in 2003 Pricer and Ishida formed a jointly owned company named Pricer Ishida Explorative Research (PIER) AB. The existing reseller agreement expires in March 2007 and the parties are currently negotiating its renewal.
For further information, please contact:
Jan Forssjö, President and CEO, Pricer AB: +46 8 505 582 00
Pricer offers solutions for more efficient and secure price information through electronic information systems to the retail industry. The Pricer system significantly improves consumer benefit and store productivity. Pricer, founded in 1991 in Uppsala, Sweden, is the leading supplier of electronic display and information systems to the retail industry.
Offering the most complete ESL solution Pricer has over 3,000 installations across three continents. Customers include many of the world’s top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ) is quoted on the Nordic Small Cap list of OMX. For further information, please visit www.pricer.com
Pricer AB (publ)
SE-192 79 Sollentuna
Telephone: +46 8 505 582 00
Corporate Identity number: 556427-7993