NetworkNewsBreaks – MicroVision, Inc. (NASDAQ: MVIS) Secures $24M Contract for Laser Beam Scanning System by Leading Tech Company

MicroVision (NASDAQ: MVIS) shares are up 16% this morning after the company announced its contract with a major technology company to develop a Laser Beam Scanning (LBS) display system and to produce MicroVision specific components. Per the agreement, the company will develop a new generation of MEMS, ASICs and related firmware for a high resolution, LBS-based product the technology company is planning to produce. MicroVision will receive up to $24 million, including $14 million in fees for development work that is expected to span 21 months and an upfront payment for other items. The development fees would be paid upon completion of milestones in 2017 and 2018. “We believe the LBS display markets have tremendous opportunity for growth, and we are extremely pleased that a major technology company has decided to work with MicroVision and our PicoP® scanning technology in the development of its product,” president and CEO of MicroVision Alexander Tokman stated in the news release.

To view the full press release, visit: http://nnw.fm/Z3Dhc

About MicroVision

MicroVision is the creator of PicoP® scanning technology, an ultra-miniature laser projection and sensing solution based on the laser beam scanning methodology pioneered by the company. MicroVision’s platform approach for this advanced display and sensing solution means that it can be adapted to a wide array of applications and form factors. It is an advanced solution for a rapidly evolving, always-on world. Extensive research has led MicroVision to become an independently recognized leader in the development of intellectual property. MicroVision’s IP portfolio has been recognized by the Patent Board as a top 50 IP portfolio among global industrial companies and has been included in the Ocean Tomo 300 Patent Index. For more information, visit the company’s website at www.microvision.com.

About NetworkNewsBreak

NetworkNewsBreak (NNB) provides a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s