Geneva, Switzerland, Nov. 10, 2016 (GLOBE NEWSWIRE) -- Companies target pico projection, virtual and augmented reality (VR, AR), 3D sensing and ADAS applications
REDMOND, Wash. and Geneva, Switzerland- November 10, 2016 - MicroVision, Inc. (NASDAQ: MVIS), a leader in innovative ultra-miniature projection display and sensing technology and STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronic applications, today announced that they plan to work together to develop, sell, and market Laser Beam Scanning (LBS) technology.
The companies anticipate cooperating closely on market development efforts that will include joint sales and marketing activities for LBS solutions. In addition to the pico projection and heads-up display (HUD) markets that both companies are currently addressing with their LBS solutions, ST and MicroVision anticipate targeting emerging markets and applications including, virtual and augmented reality (VR, AR), 3D sensing and Advanced Driver Assistance Systems (ADAS).
In addition, MicroVision and ST anticipate exploring options to collaborate on future technology development including a joint LBS product roadmap. This cooperation would combine the process design and manufacturing expertise of ST with the LBS systems and solutions expertise of MicroVision.
"Working with MicroVision, our goal is to build on our matched skills, shared vision, and commitment to grow LBS-enabled markets to open up many opportunities for both companies," said Benedetto Vigna, Executive Vice President of the Analog and MEMS Group of ST. "This relationship will position ST to pursue all of the growth opportunities for LBS and the complementary power, sensing, and control components."
"Teaming up with ST, a world leader in its field, is important for MicroVision both for ST's expertise in semiconductor technology and its global customer reach," said Alexander Tokman, president and CEO of MicroVision. "Combining ST's expertise in the development and manufacture of key components for LBS scanning engines with MicroVision's proprietary system, engine, and applications knowledge, and intellectual property can be highly advantageous for marketing LBS solutions to a wide array of companies for numerous applications."
The companies have an existing working relationship on production of MicroVision components. ST manufactures MicroVision's current-generation MEMS die based on MicroVision's design. ST also manufactures one of the ASICs sold by MicroVision.
MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision's platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision's IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. The company is based in Redmond, Wash.
MicroVision and PicoP are trademarks of MicroVision, Inc. in the United States and other countries. All other trademarks are the properties of their respective owners.
ST is a global semiconductor leader delivering intelligent and energy-efficient products and solutions that power the electronics at the heart of everyday life. ST's products are found everywhere today, and together with our customers, we are enabling smarter driving and smarter factories, cities and homes, along with the next generation of mobile and Internet of Things devices.
By getting more from technology to get more from life, ST stands for life.augmented.
In 2015, the Company's net revenues were $6.90 billion, serving more than 100,000 customers worldwide. Further information can be found at www.st.com.
Certain statements contained in this release, including those relating to future product and product applications, cooperative development, sales and marketing activities, potential market opportunities, and goals are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in forward-looking statements related to MicroVision include the following: the risk that no business enhancements result from co-marketing efforts of the parties. MicroVision's ability to raise additional capital when needed; products incorporating MicroVision's PicoP® scanning technology may not achieve market acceptance, commercial partners may not perform under agreements as anticipated, MicroVision may be unsuccessful in identifying parties interested in paying any amount or amounts it deems desirable for the purchase or license of IP assets, MicroVision or its customers failure to perform under open purchase orders; MicroVision's financial and technical resources relative to those of its competitors; MicroVision's ability to keep up with rapid technological change; government regulation of its technologies; MicroVision's ability to enforce intellectual property rights and protect its proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market its products; potential product liability claims; and other risk factors identified from time to time in MicroVision's SEC reports, including its Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, MicroVision undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.
Michael Markowitz, firstname.lastname@example.org, +1 781-591-0354 (media)
Source:STMicroelectronics International N.V.