IMINT Image Intelligence AB (publ) has today signed a new license agreement with a major Chinese customer. The new agreement runs for three years, and gives the customer the right to include some new functions from the product platform Vidhance in future smartphone products. The customer previously uses Vidhance software in their products, under an older agreement.
Through extensive secrecy agreements, the customer does not give Imint the opportunity to provide more information about the customer, or the new functions that the agreement supplement regulates. Since the agreement runs until further notice and the revenues are mainly based on royalties on the number of delivered units from the customer, which is outside Imints control, Imint cannot specify a quantifiable order value.
Hopefully, the customer will be able to launch new products at the end of the first quarter of 2019 and more information may possibly be published in connection with the customer’s upcoming product launches. However, Imint believes that the possibility of sharing additional information is highly limited.
Andreas Lifvendahl, CEO, comments:
“It is very gratifying that we have agreed on an extension of the scope of the original agreement. The customer has been decisive by driving our technological development to the absolute leading position we now established. ”