14th Dec 2017 11:11
Xaar plc
Update on License Agreement
Xaar plc ("Xaar"), a Cambridge-based world leader in industrial inkjet technology, announces today that it has reached agreement with Seiko Instruments Inc ("SII") to upgrade SII's current License Arrangement and replace its future royalty obligations in exchange for a total cash amount of JPY2.98 billion (~GBP20 million), to be paid in two tranches with both tranches payable by the end of the first half of financial year 2018.
Enquiries:
Xaar plc | |
Doug Edwards, Chief Executive Officer Lily Liu, Chief Financial Officer |
+44 (0)1223 423 663 |
Tulchan Communications | |
James Macey White David Ison Deborah Roney | +44 (0)20 7353 4200 |
About Xaar
Xaar is a world-leader in the development of inkjet technology and manufacture of piezoelectric drop-on-demand industrial printheads. The company also develops and sells ink systems, electronics and fluid optimisation services to accelerate inkjet system development and adoption. Xaar printheads incorporate patented technology, which delivers unbeatable performance when decorating, patterning, depositing functional coatings on, or adding structure to, a variety of industrial and consumer products. Today leading manufacturers worldwide, in sectors ranging from ceramics, wide-format graphics and labels to direct-to-shape packaging and decorative laminates, choose Xaar's printheads because they are extremely precise, exceptionally versatile, incredibly reliable, and designed for high-volume production. Additional information about Xaar is available at www.xaar.com
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