Vancouver, BC June 22, 2005 – Icron Technologies (TSX.V:IT) today announced that it has signed a milestone non-exclusive licensing and royalty agreement with Freescale Semiconductor for its “ExtremeUSB for Wireless” technology that will be embedded into Freescale’s next generation of UWB (Ultra Wideband) chipsets. (see additional joint release from Freescale and Icron for details).
Under terms of the agreement, Icron will receive an up front license fee and ongoing royalties based on a percentage of the price of each UWB chipset unit that embeds Icron’s patented Intellectual Property, “ExtremeUSB for Wireless”. The amount of the royalty is in accordance with industry standards.
According to industry analysts there are currently an estimated 700 million plus USB-enabled devices worldwide. It is believed that USB 2.0 is and will remain the standard for connecting peripheral devices to computers.
Combined with the Freescale chipset, Icron’s proven solution will allow manufacturers of PCs, peripherals, and consumer electronics applications to wirelessly enable their products without making any changes to the USB ecosystem, resulting in a true “plug and play” experience for users right out of the box.
“This is the key agreement Icron has been working towards for the past year. We are very pleased to partner with Freescale and expect this agreement to position Icron in the consumer device marketplace.” stated President and CEO Suresh Singh. “Our solution will allow manufacturers of PC’s and consumer devices to wirelessly enable their products without changing the current design, the first step towards the complete elimination of wires to connect devices to computers.”
Icron expects to begin recording revenues from this royalty agreement in the third quarter this year.
About Icron Technologies Corporation
Icron Technologies Corporation’s patented ExtremeUSB® technology extends the range of USB in wired environments and enables wireless USB over any RF technology. ExtremeUSB is the only USB-IF compliant extension solution and is deployed globally in a wide range of applications including: industrial automation, medical device, aerospace, KVM and computer networking. ExtremeUSB technology is available in a variety of formats including technology licenses, OEM modules, developer kits, as well as branded and private-label products. The company also provides a range of engineering and development services focused on unique USB connectivity issues.”
Icron is a publicly traded corporation and trades under the symbol “IT” on the TSX Venture Exchange. For information on the company and its products, please visit www.icron.com and for detailed financial information visit www.sedar.com. The Toronto Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release — including, without limitation, statements regarding financial estimates and future plans and objectives of Icron — are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
2005 Icron Technologies Corporation. ExtremeUSB®, USB Ranger™ are trademarks of Icron Technologies Corporation.
|Icron Technologies Corporation|
|Suresh Singh, President & CEO
|The Howard Group|
|David Gordon, Investor Relations for Icron