SkyCross Receives $1 Million Investment
From Korean Telecom Giant SK Telecom
MELBOURNE, Florida, April 20, 2004 – Wireless antenna manufacturer
SkyCross today announced it has received a $1 million investment
from Korea's telecommunications giant SK Telecom. The arrangement
will involve sharing the companies' innovative core technologies
for internal antennas that are used for mobile headsets, RFID tagging,
and other wireless devices.
The announcement comes in the wake of an agreement SK Telecom
and SkyCross signed last year in which SK Telecom began implementing
SkyCross cellular, GPS and WCDMA embedded antenna solutions into
its new GPS-enhanced CDMA flip-top phones. The investment announced
today will enable SK Telecom to develop a new business model to
receive income from major handset makers through its relationship
with SkyCross and its innovative antenna technologies. In addition,
SkyCross owns core technologies on antennas for RFID tagging and
telematics, which can lead to additional cross-marketing and business
opportunities for the two companies.
SkyCross is a Florida-based antenna company whose core technology
utilizes patented Meander Line Antenna (MLA) structures that make
it possible to build compact internal antennas for mobile handsets,
PDAs, WiFi, satellite Digital Multi-media Broadcasting (DMB), and
other applications. Because of its groundbreaking work, the company
was recently selected as one of Wireless Future Magazine's "Most
Innovative Companies".
SkyCross antennas enable mobile handset makers to provide high
performance internal antennas with their CDMA mobile handsets,
previously thought to be impossible. By using SkyCross technologies,
handsets become more aesthetically appealing -- since the antenna
size can be reduced in size to 2-3 millimeters - while providing
superior performance.
SK Telecom and SkyCross are already in discussions with multiple
major Korean and non-Korean handset manufacturers to use SkyCross
antennas in mobile handsets and DMB devices. The first CDMA handset
using SkyCross antenna technologies is scheduled to be released
in the Korean market in May 2004.
"We are pleased that such a powerful force in the wireless
industry has recognized the strength of our technology and our
ability to produce unique new antenna solutions," said Dr.
Chris Morton, CEO of SkyCross. "We are looking forward to
working with SK Telecom on a wide range of new wireless solutions." About SkyCross
SkyCross is a leading developer of next-generation
RF technology for mobile and fixed wireless telecommunications,
telematics, satellite, and mobile computing markets. SkyCross'
antenna solutions are based on patented Meander Line Antenna technology
that allows engineers to design high performance, multi-mode, multi-frequency
antennas that can be hidden inside a mobile casing, have a very
low radiation profile, and offer much better gain characteristics
over existing solutions. Typical applications for the antennas
include handsets, laptop computers, PDAs, automobiles, household
electronics and base stations. For details, please visit www.skycross.com.
# # # |
