SAN JOSE, Calif., Oct. 24 /PRNewswire/ -- Vitex Systems, Inc. a leading technology developer, licensor and engineering service provider for thin-film encapsulation and moisture barrier films, today announced that it has signed a licensing agreement with Sunic System Inc. of Korea. The agreement includes a technology transfer package from Vitex to Sunic, and gives Sunic the non-exclusive rights to make and sell Guardian(TM) thin-film encapsulation systems, which can be used to encapsulate various electronic components and devices, including organic light emitting diode (OLED) displays, thin film solar cells and thin film batteries. While the financial terms of agreement were not disclosed, the license includes an upfront fee and on-going royalty payments based on tool sales.
"Thin-film encapsulation is the key to enable future flexible and printable electronics and Vitex is the recognized leader in this field," said Hoon Lim, CEO and president of Sunic. "Getting the precious know-how surrounding Barix(TM) encapsulation technology and leveraging the license for Vitex's patent portfolio will enable Sunic to play an important role in these markets."
Commenting on its agreement with Sunic and licensing successes, Chyi-Shan Suen, director of sales and marketing for Vitex, said, "Sunic has been successfully supplying many inline sputtering systems to various customers. They have also sold many OLED deposition systems across various countries. Sunic has strong technical capabilities and is a well-respected equipment company in the field. Signing this license agreement not only validates the strength of our patent portfolio but, more importantly, broadens the Guardian tool family offering." He added, "This announcement follows on the recent success of our other tool licensee in securing new tool orders. It also reaffirms the growing adoption and need of our thin-film encapsulation technology to enable future OLED displays."
About Sunic
Since its founding in 1990, Sunic System has been concentrated on developing and manufacturing machineries particularly in the field of OLED. Equity participation of KRW 8.5 billion from Mirae Asset Group Consortium in 2005 has greatly enhanced its financial stability. So far, Sunic's OLED equipments have been widely used by major display panel manufacturers including Samsung SDI, Samsung Electronics, and Neo View Kolon; Material developers such as LG Chemicals and Merck KGaA; various universities and R&D centers such as IPMS. Overseas customers include IPMS, Thomson, OSRAM, and Merck KGaA in Europe, OptoTech in Taiwan, SVA, UESTC, and Hong Kong Univ. in China and Hong Kong. Sunic's management policy is to maintain its leading role in the OLED equipment industry by strengthening its R&D, especially equipments for large area production. Also noteworthy is Sunic's set-up of service center in Europe slated for October 2007 will further activate its operation in the region.
http://www.sunic.co.kr/
About Vitex Systems
Vitex Systems Inc., headquartered in San Jose, Calif., licenses a proprietary encapsulation solution/process, Barix(TM), as well as tool and next-generation flexible barrier substrate, that enable the cost-effective production of organic light-emitting diode (OLED) displays that are lighter in weight and thickness than any other commercially available displays. Vitex's technology can also be used to address a wider array of organic optoelectronics applications. The company was incubated at Battelle Memorial Institute, the world's largest independent private non-profit research foundation, and was spun off as an independent company in 1999. For more information on Vitex Systems, visit http://www.vitexsys.com/
Vitex Systems Inc.
