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Article: Intermec Technologies Plans R&D Agreement with Amtech Corp.
- Article from:
- Business Wire
- Article date:
- November 3, 1997
CopyrightCOPYRIGHT 1997 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEVERLY HILLS, Calif.--(BUSINESS WIRE)--November 3, 1997-- UNOVA, Inc. (NYSE:UNA) today announced that it has entered into negotiations with Amtech Corp. (NASDQ:AMTC), under which its Intermec Technologies Corporation subsidiary and Amtech would form an alliance to jointly develop radio frequency identification (RF/ID) technology.
In support of the planned, multi-year joint project, UNOVA is providing $10 million in capital to Amtech by purchasing, from Amtech, 2.2 million shares of common stock in a private placement. Michael E. Keane, Senior Vice President and Chief Financial Officer of UNOVA, has also been elected to the board of Amtech.
"RF/ID ...