Intelleflex Adds Development Team and IP from Maxim for Equity

Intelleflex, provider of Extended Capability RFID, announced that they have reached a definitive agreement with Maxim Integrated Products that will result in the transfer of a Maxim engineering team, a body of design works and related IP to Intelleflex in return for Maxim receiving an equity position in Intelleflex.

In addition, Intelleflex and Maxim will partner on certain go-to-market activities in the future.

Intelleflex President and CEO Peter Mehring said, "This transaction combines the leaders in Class 3 RFID. The added development capacity and complementary design ideas will allow us to accelerate the product road map and build a leading position in the applications and markets for Class 3 RFID technology."

Maxim Division Vice President Chris Neil said, "The combination of these complementary teams creates a clear provider of this emerging Class 3 RFID technology. The Maxim team is leading the Class 3 world-wide standards definition and development, and the Intelleflex team is provider of Extended Capability RFID product development."

"We saw this spin-out combination as a natural fit that further strengthens Intelleflex's position," said Ketan Patel of New Venture Partners, who recently led an $8M investment round in Intelleflex. "The Maxim team was doing great work on a parallel path with Intelleflex. By joining forces, they'll be able to move further, faster toward an impressive set of new extended capability RFID products for major market impact in 2010 and beyond."

In total, seven engineers from Maxim will be joining the team at Intelleflex, and will be based in Dallas, TX, and at Intelleflex's headquarters in Santa Clara, CA.

The Intelleflex Intelligent RFID Platform, comprising high performance multi-protocol tags and readers, enables solutions for asset tracking, vehicle / yard management, manufacturing WIP control, supply chain automation, parts maintenance, access control, and other applications.

Maxim Integrated Products designs, manufactures, and sells high-performance semiconductor products.

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