Network Technology - Acquisition
September 24 1997 - 4:00AM
UK Regulatory
RNS No 2602v
NETWORK TECHNOLOGY PLC
24th September 1997
NETWORK TECHNOLOGY PLC
("the Company")
NETWORK TECHNOLOGY PLC ANNOUNCES ACQUISITION OF STORAGE SYSTEM PATENT
Network Technology PLC, the network connectivity specialist, has announced the
acquisition of a previously unexploited patent that will form the basis of a
number of new storage system products. The new range of products, which are
currently at prototype stage, will be available from appointed independent
distributors under Network Technology's Ringdale brand name.
The patent was acquired from a small German company, Master Consulting
International. It is a unique way of storing disk shaped storage media in a
high-density format. This technology will offer the user a "Jukebox" facility
of simple storage, archiving and retrieval for all forms of Compact Disc (CD)
held data. It allows the fast transport of a selected disk to a player,
writable CD, Magneto Optical or Digital Versatile Disk (DVD) drive. Part of
the technology acquired also contains an Internet Browser facility allowing
even greater access and control. Network Technology plans to licence this
world-wide patented technology as well as producing storage systems and
storing modules which will build the basis for larger modular storage systems.
Companies such as Kodak, Sharp and Sony could benefit from the use of this
technology.
Commenting on these developments Klaus Bollmann, Chief Executive of Network
Technology said: "The acquisition of this patent gives us a platform from
which to develop an exciting new product line that we believe will produce
significant revenue for the Group in the years to come. The storage system is
suitable for data applications as well as multi-media applications such as
sound or music CDs, video CDs, compressed images of medical data and many
other applications. This technology can be utilised not only in a ground-
based environment but also on ships and aircraft."
Enquiries to:
Klaus Bollmann Network Technology 01444 870408
Kyoko Macdonald Network Technology 01444 870408 (Japanese
enquiries)
Duncan Barkes Network Technology 01444 870408 (Press enquiries)
Leo Cavendish Bankside Consultants 0171 220 7477
END
ACQNFKNDAANXEFN
Network Technology (LSE:NTY)
Historical Stock Chart
From Jun 2024 to Jul 2024
Network Technology (LSE:NTY)
Historical Stock Chart
From Jul 2023 to Jul 2024