Thin Film Electronics ASA ("Thinfilm") (OSE: THIN.OL), a leader in the development and commercialization of printed electronics and smart systems, today announced a strategic partnership with Xerox (NYSE: XRX), the global business services, digital printing, and document management company.
As a core element of the agreement, Xerox has licensed Thinfilm's proprietary technology to manufacture Thinfilm Memory labels – the only printed, rewritable memory commercially available today. Xerox will develop a marketing strategy targeted to key customers.
"This partnership with Xerox – a technology pioneer with a deep history of innovation and thought leadership – marks a critical milestone in Thinfilm's strategic roadmap," said Davor Sutija, Thinfilm's chief executive officer. "We're pleased that Xerox shares Thinfilm's vision regarding the future of printed electronics, and we look forward to working alongside them in delivering cost-effective, scalable intelligence to the market."
"The demand for low-cost, non-conventional electronic solutions is real and it's growing," said Steve Simpson, vice president, non-Xerox Supplies Business. "By partnering with Thinfilm, we are leveraging our deep manufacturing expertise and ability to scale globally in order to participate in exciting new markets adjacent to our core business."
Peter Fischer, chief product officer for Thinfilm, will lead the technology transfer initiative. To produce the memory labels, Xerox will modify a production line in one of its existing facilities in Webster, New York.