Navigation Links
Lumidigm Signs Strategic Agreement with Methode Electronics : Automotive Supplier Invests in Biometric Component Development
Date:8/6/2008

Lumidigm, Inc., the biometrics company enabling applications for the real world, has formalized a strategic business alliance with Methode Electronics, Inc. One of the many businesses that make up Methode includes being a solid Tier 1 automotive supplier focusing on technology-rich application-specific components and subsystem devices. Together, Methode and Lumidigm will bring patented biometric functionality to new markets, including transportation. The partnership includes equity financing and multiple joint development projects. Methode joins current Lumidigm strategic investors Intel Capital and Motorola Ventures.

ALBUQUERQUE, N.M. (Business Wire EON) August 6, 2008 -- "Lumidigm's technology and products have always attracted companies on the cutting edge of consumer product development," said Bob Harbour, Lumidigm President and CEO. "Methode understands the unique value of Lumidigm's biometric technology and how it can enhance the automotive customer's individual experience."

Lumidigm biometric sensors enable convenient, secure, and reliable identification and verification through the use of patented multispectral imaging technology. Already used worldwide in various identification management and security applications, Lumidigm sensors are now extending biometrics to consumer applications, such as convenience and security in the automobile.

It is this commercial potential that caught the attention of Donald W. Duda, President and Chief Executive Officer of Methode Electronics, Inc. "We believe Lumidigm's biometric sensors could be used to support potential vehicle features such as keyless entry, ignition authorization, authentication of in-vehicle transactions via telematics, as well as personalization of a vehicle's convenience characteristics," said Duda. "We've entered into this strategic business alliance with Lumidigm to pursue these and other potential biometric applications for the transportation industry," Duda concluded.

About Lumidigm

Lumidigm, Inc. deploys biometric systems that work quickly and effectively on all people in all environmental conditions. Headquartered in Albuquerque, New Mexico, Lumidigm sensors are distributed worldwide. Lumidigm's initial venture capital investors are DFJ New England, Epic Ventures, and International Venture Fund. Other investors include Draper Fisher Jurvetson, Intel Capital, Methode Electronics, Motorola Ventures, New Mexico Co-Investment Partners managed by Fort Washington Capital, Solstice Capital, and Sun Mountain Capital.

About Methode Electronics

Methode Electronics, Inc. (NYSE: MEI) is a global manufacturer of component and subsystem devices with manufacturing, design and testing facilities in the United States, Malta, Mexico, United Kingdom, Germany, Czech Republic, China and Singapore. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies to control and convey signals through sensors, user-interfaces, interconnections and controls. They manage their business on a segment basis, with those segments being Automotive, Interconnect, Power Products and Other. Their components are in the primary end markets of the automobile, computer, information processing and networking equipment, voice and data communication systems, consumer electronics, appliances, aerospace vehicles and industrial equipment industries. Further information can be found at Methode's website at www.methode.com.

Read the full story at http://www.prweb.com/releases/lumidigm/methode/prweb1185024.htm


'/>"/>
Source: PRWeb
Copyright©2008 Vocus, Inc.
All rights reserved  

Related biology technology :

1. BioMaxx Systems Inc. Signs Engagement Letter With Alcofuel Technologies for Provision of an Ethanol Micro-Refinery
2. China-Biotics, Inc. Signs Intention Agreement to Supply Probiotics to Bright Dairy & Food Co., Ltd.
3. Avicena Signs Worldwide Exclusive Distribution Agreement with RITA Corporation for its Proprietary Dermaceutical Compounds
4. Monsanto Company Signs Share Subscription Agreement With Devgen
5. CryoLife Signs Distribution Agreement for Inclusion of BioGlue(R) Surgical Adhesive in Hernia Repair Kit with Proxy Biomedical Surgical Meshes
6. Shandong Zhouyuan Seed and Nursery Co., Ltd. Signs an Agreement with Linyi Company
7. Spanish Research Consortium Signs Four-Year Renewal Deal for ISI Web of Knowledge
8. Assay Designs(TM) Announces Additions to the Leadership Team
9. Martek Signs Multi-Year Worldwide Sole Source Supply Agreement with Abbott
10. MultiCell Technologies Signs Worldwide Exclusive License Agreement With Corning Incorporated
11. Anesiva Signs Co-Promotion and Distribution Agreement With Sagent Pharmaceuticals for Zingo(TM) in U.S. Hospitals
Post Your Comments:
*Name:
*Comment:
*Email:
Related Image:
 Lumidigm Signs Strategic Agreement with Methode Electronics :  Automotive Supplier Invests in Biometric Component Development 
(Date:5/25/2016)... ... May 25, 2016 , ... ... and Drug Administration (FDA) has granted the company’s orphan drug designation request covering ... orphan drug designation granted by the FDA. , Spinocerebellar ataxia is a ...
(Date:5/24/2016)... , ... May 24, 2016 , ... Last week, Callan ... corporate executives and entrepreneurs, held The Future of San Diego Life Science event at ... Diego life science community attended the event with speakers Dr. Rich Heyman, former CEO ...
(Date:5/23/2016)... ... 23, 2016 , ... PrecisionAg® Media has released its latest ... The paper outlines the key trends that are creating both opportunities and challenges ... lot of highs and lows as the precision agriculture market has grown and ...
(Date:5/23/2016)... and LONDON , May 23, 2016 /PRNewswire/ ... See Frontage Boost Efficiency by 40% - Frontage Implement ... - Frontage Enforce Quality, Compliance and Traceability Within the Bioanalytical lab ... labs in the United States and ... to be deployed across its laboratory facilities. In addition to serving ...
Breaking Biology Technology:
(Date:3/22/2016)... March 22, 2016 ... Sensors Market for Consumer Industry by Type (Image, ... Application (Communication & IT, Entertainment, Home Appliances, ... Forecast to 2022", published by MarketsandMarkets, the ... to reach USD 26.76 Billion by 2022, ...
(Date:3/15/2016)... -- --> --> According ... "Digital Door Lock Systems Market - Global Industry Analysis, Size, ... digital door lock systems market in terms of revenue was ... to grow at a CAGR of 31.8% during the period ... (MSMEs) across the world and high industrial activity driving inclusive ...
(Date:3/11/2016)... PUNE, India , March 11, 2016 ... to a new market research report "Image Recognition Market ... by Application (Marketing and Advertising), by Deployment Type (On-Premises ... Global Forecast To 2022", published by MarketsandMarkets, the global ... in 2015 to USD 29.98 Billion by 2020, at ...
Breaking Biology News(10 mins):