UK-based RFID design firm Innovision Research & Technology has signed a deal with a Chinese smart card vendor. Under the terms of the contract, Innovision will develop and supply custom contactless smart card tag technology for the firm, which works in the contactless smart card and ticketing markets in China. The deal represents Innovision’s first foray into China.
The initial contract between the companies covers two projects, for which Innovision will supply advanced analog, digital and EEPROM tag technology to be integrated with that of the customer. The contract is expected to be worth at least a million dollars to Innovision over the next few years, with the revenue coming from both the development of the specific technology and royalties.
“We told our investors that we were intending to make a first entry into the Chinese market, where we hope to tap into the large potential market for our technology, particularly RFID tags,” says Innovision CEO David Wollen in reference to the deal. “It is also significant to Innovision as it complements recent large NFC contracts we have won and it addresses different markets, with different products and with shorter-term revenue potential.”
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