Purchase of Pneu-Logic Intellectual Property (I...

Transense Technologies plc (the 'Company' or 'Transense') 23rd November 2009 Re Purchase of Pneu-Logic Intellectual Property (IP) and Trading Name Further to the recent announcement of 8th June 2009, regarding the agreement to distribute the Bluetooth enabled tyre inspection tools manufactured by Pneu-Logic, Translogik Limited ('Translogik'), the wholly owned subsidiary of Transense, is pleased to announce the purchase of the IP relating to these tools and the trading name of Pneu-Logic. Translogik has paid an initial amount of £50,000 and additional payments will be made, subject to sales volumes, up to an agreed maximum total consideration. This agreement enables Translogik to gain complete control of the manufacture and distribution of these tools and reduce the cost of sales. Pneu-Logic will continue to manufacture the probes in the near term in order to effect an orderly handover. Translogik is in ongoing negotiations to move production to a highly respected, mid-sized; UK based engineering company which has additional facilities in China. Graham Storey, Transense CEO, said "The recent series of price rises in tyres and fuel has brought these costs into sharp focus within the increasingly competitive fleet service providers market. Prolonging the life of tyres is a critical element in maintaining profitability for fleet management operations. Our range of tyre management solutions provide our customers with a rugged, high quality, cost effective tool, for maximising the life of their tyres. In addition to the recent Goodyear rollout, we have received additional orders from around the world for our expanding suite of data collection tools. We are delighted to have secured this acquisition; these tools form an integral part of our overall strategy for the Off the Road (OTR) and commercial truck fleet markets, and this agreement gives us considerable additional flexibility in executing our future expansion plans". George Yeomans, CEO of Pneu Logic said "Integrating our data collection tools into a solution which will additionally incorporate an RFID reader and SAW (Surface Acoustic Wave) TPMS sensor reader is exactly what the market has been demanding. I am convinced this will be a huge success". Contacts: Transense Technologies PLC Graham Storey 01869 238380 Laren Yeomans Brewin Dolphin Investment Banking Neil Baldwin 0845 213 4730 Sean Wyndham-Quin About Pneu -Logic Pneu-Logic develops and supplies electronic data capture equipment to the commercial tyre industry, specialising in Tyre Pressure Monitoring Systems (TPMS) and Radio Frequency Identification (RFID) solutions. The company is based in Swadlincote, Derbyshire. About Translogik Translogik Limited is a provider of innovative technology solutions for Data Capture and Asset Management to the Commercial vehicle and Industrial markets. Translogik Limited is a wholly owned subsidiary of Transense Technologies PLC. Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT). www.trans-logik.com About Transense Transense Technologies is a technology transfer company based in Upper Heyford, Oxfordshire. Transense develops Surface Acoustic Wave (SAW), wireless, batteryless, sensor systems in partnership with its licensees and partners, Honeywell, Melexis, Michelin, Sengenuity, Stack, Tai-Saw, Texas Instruments, SCHOTT, McLaren Electronic Systems and Carbon Motors. Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque systems for Electrical Power Assisted Steering (EPAS) and driveline management. Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT). www.transense.co.uk ENDS ---END OF MESSAGE--- This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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