Neology and 3M Resolve Patent Litigation

The agreement gives Neology, Smartrac and 3M access to each other’s RFID products in the transportation market – Neology will have access to 3M’s multi-protocol readers and 3M to Smartrac’s and Neology’s tags and technology in the transportation market. This positions the companies as suppliers of 6C RFID technology to the industry. The agreement also includes a confidential financial arrangement. Given the superior communication protocol and open platform of the 6C RFID technology, the companies will provide their customers the path to interoperability via the ISO 18000 6C standard. Francisco Martinez de Velasco, Chief Executive Officer of Neology, stated: “We are very pleased and excited about the agreement. Our patented cutting edge technologies allow us to manufacture superior products and provide excellent integration services tailored to our customers’ needs. We are confident we will become a valuable supplier to 3M and its subsidiaries and look forward to advancing the 6C standard.” Dan McGurran, Business Director, 3M Motor Vehicle Systems and Services, said “3M is pleased to have reached an agreement that will allow both companies to solve the transportation market’s pressing need for interoperability via the ISO 18000 6C technology. This will improve the efficiency of tolling and enhance the motorist experience.” Christian Uhl, CFO of SMARTRAC, further noted, “We believe that our companies will mutually benefit from this agreement and we are delighted that we have been able to identify new opportunities to pursue together. We look forward to continue and intensify the collaboration and relationship between Smartrac and 3M.”