The European Commission, Information Society Technologies (IST) Signs an Agreement with a European Consortium of Companies Led by OTM Technologies.Business Editors and Technology Writers CommunicAsia 2002 Booth# 5K3-12 HERZLIYA, Israel--(BUSINESS WIRE)--June 17, 2002 OTM OTM See: Out of the money. Technologies today announced that a European consortium led by OTM has received initial funding from the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community for its new project named Virtual Input Pen for Data (VIPDATA). The VIPDATA consortium consists of ten partners and includes leading European companies It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome. This is a list of companies from the countries in the European Union. from several countries, including Philips, France Telecom, SchlumbergerSema, CRL CRL - Carnegie Representation Language. Carnegie Group, Inc. Frame language derived from SRL. Written in Common LISP. Used in the product Knowledge Craft. , Decuma, Sanyo Energy-Europe and Celestica. All consortium members have signed a funding agreement Funding Agreement Illiquid insurance contracts that provide guaranteed principal repayment and interest payments for a predetermined period of time. Notes: Funding agreements are marketed to mutual fund companies and municipal reinvestments. with the European Committee under FP5, to develop and test a Virtual Input Pen that will serve as an input device for mobile and fixed handsets. The EU will fund 50% of the 24 months project, with a total budget of over $4.4M Euro. Ariel Poppel, CFO See Chief Financial Officer. of OTM Technologies Ltd and head of the VIPDATA steering committee steer·ing committee n. A committee that sets agendas and schedules of business, as for a legislative body or other assemblage. steering committee Noun board says, "VIPDATA addresses the urgent need for user interaction tools in the emerging market of mobile data and may well be the missing link that mobile operators have been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. to boost data traffic over next generation networks." The VIPDATA consortium is well balanced and contains some of the leading European companies in the fields of Bluetooth, Telecommunication, product design and manufacturing, consumer electronics and handwriting recognition. Each company will contribute its expertise toward a common goal of developing the VIPDATA system and commercialize it. Gilad Lederer, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of OTM Technologies added: "We are very pleased with the European Committee decision to approve and fund this project. It validates and provides a strong drive for our vision of a ubiquitous, easy-to-use and mobile data input solution. We are also very proud of the impressive list of top European players who joined as consortium members, in order to set a new standard for data input devices." The project provides the consortium partners with the opportunity to put into effect the VIPData as a complete business and technological solution and create a revolution in the mobile handset market. The partners' extensive pan-European understanding of the market will be instrumental in commercializing the project in the later stages, both to the benefit of the participating parties and the European Community. OTM Technologies is exhibiting at CommunicAsia2002 at the Israel Pavilion Booth 5K3-12. About OTM Technologies OTM Technologies Ltd., founded in 1998, develops, manufactures and markets its OTM(TM) technology based products. The Optical Translation Measurement technology allows for measurement of the relative motion between an OTM sensor and practically any object moving across its optical aperture, using a coherent light source (laser) and an innovative, simple optical set up. Potential applications include input devices; paper encoders; automotive motion encoders; industrial gauges; medical sensors; alarm sensors, and more. OTM Technologies' offices are located in Herzliya, Israel. For more information, please visit the OTM Technologies web site at www.otmtech.com. |
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