Feb 22 2008
Peratech Limited, the leader in new materials designed for touch technology solutions, has announced its plan to licence out its Eleksen consumer wearables business into QIO Systems. Peratech purchased the Eleksen wearables business as part of its recent acquisition of the assets of Eleksen Group Plc.
As part of the deal, QIO Systems gains a worldwide exclusive licence to the intellectual property and design rights for the electronics and textile touchpads of Eleksen and for the manufacture and sale of ElekTex textile touchpads for use in both consumer and commercial applications. In exchange, Peratech will take an equity shareholding in QIO Systems.
QIO Systems will also acquire the rights to Eleksen’s eSystem merchandising programs and will be launching eSystem electronics at retail in time for the Back-to-School ’08 and Fall/Winter’08 fashion seasons. QIO Systems will be launching complete iPod control solutions and iPod-Bluetooth solutions in time to support outstanding customer demand. The company plans to bring a comprehensive range of eSystem electronics for sale at retail by the end of Q1 2009.
“This deal sets QIO Systems on the path to success. We’re committed to continuing Eleksen’s tradition of exceptional customer support and innovation in wearable electronics solutions,” remarked John Collins, President and CEO of QIO Systems, “It’s exhilarating to be back with the technology, relationships and customers we know so well.”
“The relationship with QIO is part of Peratech's strategy to move smart textiles from the niche and into the mainstream. Our ElekTex technology, combined with QIO's range of electronics will provide brand holders and consumers with exciting new ways to interact with their personal electronic devices. We have invested in a talented team of former Eleksen managers who were responsible for the development of the extremely successful Eleksen offerings,” commented Chris Lussey, joint CEO of Peratech. “These guys, who were the architects of Eleksen’s wearable products and emerging eSystem strategy, understand better than anyone in the industry how to move the wearable electronics to the mass market. We’re excited about this new partnership.”
The team at QIO Systems is being led by John Collins, CEO of QIO Systems and former VP of Marketing and Business Development at Eleksen, and Vassilis Seferidis, CTO of QIO Systems and former VP Product Management. John and Vassilis were responsible for the initial development of Eleksen’s wearable electronics product lines and the innovation which drove Eleksen to the top of the wearable electronics market. They are being joined at QIO System by several key Eleksen team members.