VANCOUVER, British Columbia, Aug. 07, 2018 (GLOBE NEWSWIRE) — Intrinsyc® Technologies Corporation (TSX: ITC and OTC: ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of intelligent connected devices, today announced the Company has signed a 3G/4G patent license agreement with Qualcomm Incorporated. Under the terms of the agreement Qualcomm has granted a royalty-bearing patent license, to develop, manufacture and sell embedded modules for use in complete terminals; including M2M, Telematics, and IoT Devices, but excluding telephones and tablets.
“We are excited to expand on our relationship with Qualcomm to develop innovative modules that will enable our clients to create intelligent connected IoT products,” said Tracy Rees, Chief Executive Officer, Intrinsyc Technologies Corporation. “Intrinsyc has developed a compelling portfolio of embedded computing modules based on the Qualcomm® Snapdragon™ processor technology for use in IoT devices such as wearables, cameras, robotics, telematics, and more. With this agreement we will be able to expand our product lineup to include modules that incorporate the industry’s leading cellular technology from Qualcomm.”
“We are pleased to sign a licensing agreement that expands on our long-standing relationship and enables Intrinsyc to create a broadened set of solutions for the Internet of Things and telematics markets,” said John Han, SVP and GM, Qualcomm Technology Licensing. “Qualcomm’s breakthrough technologies make ecosystems thrive, and we are proud to empower OEMs like Intrinsyc to compete, innovate and grow globally.”
Intrinsyc’s first product to take advantage of the new licensing arrangement is currently under development. The Open-Q™ 2500-M1 is a small footprint System on Module (“SOM”) designed for wearables and tracking applications. The SOM will be powered by the Qualcomm® Snapdragon Wear™ 2500 platform and will include an integrated LTE modem.
About Intrinsyc Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that provides hardware, software, and engineering and production services that enable rapid commercialization of IoT products. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced Qualcomm® Snapdragon™ processor technology from Qualcomm Technologies, Inc., and helps OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX: ITC and OTC: ISYRF) and is headquartered in Vancouver, BC, Canada, with additional engineering centers in Taipei, Taiwan, and Bangalore, India.
Intrinsyc and Open-Q and their respective logos are trademarks, registered and otherwise, of Intrinsyc Technologies Corporation in Canada, European Union, Taiwan, United States of America and other jurisdictions.
Qualcomm, Snapdragon and Snapdragon Wear are trademarks of Qualcomm Incorporated, registered in the United States and other countries.
Qualcomm Snapdragon Wear and Qualcomm Snapdragon are products of Qualcomm Technologies, Inc. and/or its subsidiaries.