The news today looks really promising....
Clavis Technologies and Bizmodeline Sign MoU to Jointly Develop RFID-Enabled Near Field Communications Business
SEOUL, South Korea, Nov 7, 2011 (GlobeNewswire via COMTEX) -- Clavis Technologies International Co., Ltd. (OTCBB:CTLH), a leading provider of RFID-enabled solutions to various industrial markets, today announced that the Company has signed a Memorandum of Understanding (MoU) with Bizmodeline Inc. to jointly develop its RFID-enabled Near Field Communications (NFC) business.
Near Field Communications (NFC) allows for simplified transactions, data exchange, and wireless connections between two devices in close proximity to each other, usually by no more than a few centimeters. It is expected to become a widely used system for making payments by smartphone in the United States. As outlined in the MoU, Clavis Technologies will develop an RFID-enabled NFC application based on service models developed by Bizmodeline, which will provide its financial, billing, RFID and NFC patents as well as supply allied hardware.
"We are very excited to enter into this agreement with Bizmodeline. The RFID/NFC market is growing due to the vitalization of smart phone-equipment through finance, distribution, circulation and other industries," commented Mr. Hwan Sup Lee, CEO of Clavis Technologies. "We believe that we can offer great value by incorporating our RFID technology into the global Near Field Communications industry which is growing very rapidly throughout the world."
About Bizmodeline Inc.
Bizmodeline Inc. has a total of 2700 patents, 1000 patents related to Financial and Billing, 1400 patents related to Mobile, Ubiquitous, RFID and NFC 300 patents related to Online AD and Research and has been offered the services of m-Financial, Authentication and Radio communication.
About Clavis Technologies
Clavis Technologies Co., Ltd., a wholly owned Korea-based subsidiary of Clavis Technologies International Co., Ltd. ("Clavis Technologies") is a pioneering vendor of RFID technology since its inception in 2003, providing RFID-enabled solutions, including business processes, based on the EPCglobal standards to various industrial markets. With clients such as IBM Korea, SKC, Alien Technology Asia, KT Networks, NextID, Clavis Technologies combines its products, expertise, partnerships and integration capabilities to enable companies to effectively utilize the wealth of data captured by networked devices such as RFID readers or handhelds, extending the quality of valuable information to any device used by the companies or their customers.
To learn more about the Company, visit www.clavistech.com
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Clavis Technologies International Co., Ltd.