UniPixel Buys Atmel's XSense Assets And Operations - Quick Facts

(RTTNews) - UniPixel, Inc. (UNXL), a designer of Performance Engineered Films, said its wholly owned subsidiary Uni-Pixel Displays, Inc. has acquired the assets of Atmel Corp.'s (ATML) XSense touch sensors group.

The company has concurrently entered into patent and intellectual property licenses with Atmel, exclusive for a period of two years, for the use of XSense-related technologies.

UniPixel also has acquired separate licenses for fine line technology from Atmel's partner, CIT Technology Limited, a wholly owned subsidiary of Carclo Plc (CAR.L).

The licenses with CIT Technology as to the products covered by the patents and intellectual property being licensed are also exclusive for a period of two years.

The assets acquired include Atmel's XSense touch sensors manufacturing equipment, design tools and existing purchase orders.

Further, UniPixel bought Atmel's established commercial volume manufacturing capability through the lease of Atmel's Colorado Springs XSense manufacturing facility and the expected transfer of certain related staff and engineering talent.

As a result of the transaction, UniPixel will gain immediate access to Atmel's Tier 1 PC OEM customer base and technology partners, along with the associated sales and product development pipeline.

For the XSense assets, UniPixel has paid an initial consideration comprised of a $450,000 promissory note. In connection with the intellectual property licenses it received, UniPixel has made a $9.3 million royalty prepayment to Atmel, and a $4.7 million royalty prepayment to CIT Technology.