Big news just out from our latest top-pick, Thin Film Electronics. The company announced this morning a strategic partnership with Xerox (NYSE: XRX), the global business services, digital printing, and document management company. Thin Film is one of the hottest companies in the field of Internet of Things (IoT).
As a core element of the agreement, Xerox has licensed Thinfilms 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 Thinfilms strategic roadmap“, says Davor Sutija, Thinfilms CEO. “We are pleased that Xerox shares Thinfilms 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 its growing” says 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 N.Y.