Stock Market Champs..........11-02-06
Microvision Inc. (MVIS)
Last Trade: | 2.86 |
Trade Time: | 11:07AM ET |
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Microvision (Nasdaq:MVIS), the global leader in light scanning technologies for display and imaging products, announced today that it has entered into a joint development agreement with a major Asian consumer electronics manufacturer. The agreement focuses on development of high-volume design for manufacturing of Microvision’s proprietary Integrated Photonics Module (IPM™), a tiny display engine suitable for a variety of display applications, including ultra-miniature laser projectors for mobile phones.
Under the agreement, the parties will cooperate to optimize Microvision’s IPM designs for high-volume manufacturing and may engage in marketing and product development discussions with prospective OEM customers. For confidentiality reasons, the name of the Asian manufacturer and other terms of the agreement were withheld. Potential applications for the IPM platform include ultra-miniature laser projectors for embedded or accessory solutions for mobile phones, personal media players, laptops and DVD players. Additional applications include lightweight color eyewear and heads-up displays for automobiles and airplanes. Target customers are major consumer electronics OEMs and large tier 1 automotive integrators.
“This agreement marks an important milestone on our roadmap to the commercialization of high-volume products based on the company’s new proprietary IPM architecture,” said Alexander Tokman, President and CEO of Microvision. “We are extremely pleased to be working closely with one of the world’s leading developers and manufacturers of consumer electronics and commercial equipment and a company with a truly global reach. To execute on our plan to bring the IPM to market with the right performance, quality and cost in products such as an embedded or accessory ultra-miniature laser projector (PicoP™) and automotive heads-up display, it is critically important for us to align ourselves with one or more proven, strategic manufacturing partners.
“We anticipate that our efforts with this world-leading consumer electronics partner will accelerate our time-to-market, and provide the potential for establishing the global capacity we require to serve large commercial markets with our IPM platform technology.”
Clark Inc. (CLK)Last Trade: | 16.57 |
Trade Time: | 10:58AM ET |
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The Aegon offer is a premium of about 32.4 percent over the $12.50 closing price of Clark shares on the New York Stock Exchange on Wednesday.
"We believe this transaction will provide excellent value for our shareholders and significant benefits and opportunities for our associates, partners and clients," said W. Tom Wamberg, chairman and chief executive officer of Clark.
The agreement allows Clark to consider any third-party acquisition proposals and involves an unspecified termination fee if Clark accepts a superior proposal. The transaction with Aegon is expected to close in the first quarter of 2007.
Aegon is Clark's largest shareholder with a 13 percent stake.
Upon completion of the deal, Aegon will own the corporate solutions practice of Clark Consulting, along with Clark Securities Inc.
Plexus Corp. (PLXS)
Last Trade: | 25.72 |
Trade Time: | 11:07AM ET |
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