austriamicrosystems Completes Equity Investment in Micro Motor Manufacturer New Scale Technologies.
UNTERPREMSTAETTEN, Austria & VICTOR, N.Y. -- austriamicrosystems (SWX:AMS), a leading worldwide designer and manufacturer of high performance analog ICs for communications, industry & medical and automotive applications, and New Scale Technologies, Inc., a developer and manufacturer of miniature motion systems, today announced the completion of a Series B preferred equity transaction. austriamicrosystems has made a $6 million investment in exchange for a 25% minority share in privately-held New Scale of Victor, NY.
The investment underscores a strategic partnership for product development and new business development in which the companies will integrate austriamicrosystems' high-performance analog ICs with New Scale's patented piezoelectric SQUIGGLE motors to create "disruptively small" motion systems. The partners are already working on the integration of New Scale's tiny SQUIGGLE motors, the world's smallest linear motors, with custom motor controller and position sensor ICs from austriamicrosystems. By reducing the supporting control electronics to single ICs, the partnership allows New Scale to create complete motion systems on the same scale as its miniature motors, currently less than 2 x 2 x 6 mm in size.
"This partnership enables us to produce a new line of disruptively small motion systems with best-in-class precision and power efficiency," said David Henderson, CEO and CTO of New Scale. "Tapping austriamicrosystems' expertise in power-efficient analog ICs and precision magnetic sensors, we can provide our customers with complete 'closed loop' motion solutions that incorporate micro motors, drive electronics and position sensors in extremely small modules, ready for integration into OEM products."
As part of their strategic partnership, austriamicrosystems and New Scale are actively pursuing opportunities in auto focus and optical zoom modules for mobile phone cameras, actuators for electronic locks, micro fluidic pumps for medical devices, and active control systems for automotive components.
"New Scale's SQUIGGLE motor is a powerful new technology that will have a disruptive impact on communications, medical and automotive system product designs requiring small motion systems," commented John Heugle, CEO of austriamicrosystems. "Our products enable New Scale to create the next generation of miniature motion modules; therefore we have decided to actively support New Scale's market penetration strategy by entering into a strategic partnership and becoming a shareholder in New Scale. Our partnership will result in a complete solution that will accelerate market penetration for New Scale's products and open up new applications for our high performance analog ICs."
About New Scale Technologies
New Scale Technologies (www.newscaletech.com) creates disruptively small motion systems. Based on its patented SQUIGGLE motor technology, New Scale invents, manufactures and sells miniature ultrasonic motors and integrated positioning systems. SQUIGGLE motors are powerful, precise, simple, and compatible with extreme environments. These miniature motors enable design engineers to create smaller products including mobile phone cameras, electronic locks and fasteners, medical devices such as micro pumps and endoscopes, imaging systems, automotive modules, lasers, aerospace and defense systems, cryogenic and MRI-compatible instruments, and micro fuel cells.
austriamicrosystems (www.austriamicrosystems.com) is a leading designer and manufacturer of high performance analog ICs, combining more than 25 years of analog design capabilities and system know-how with its own state-of-the-art manufacturing and test facilities. austriamicrosystems leverages its expertise in low power and high accuracy to provide industry-leading customized and standard analog products. Operating worldwide with more than 1,000 employees, austriamicrosystems focuses on the areas of power management, sensors & sensor interfaces, portable audio and car access in its markets Communications, Industry & Medical and Automotive, complemented by its Full Service Foundry activities. austriamicrosystems is listed on the SWX Swiss Exchange in Zurich (ticker: AMS).
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|Date:||Jan 17, 2008|
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