Celebrating 25 Years of Scoop
Special: Up To 25% Off Scoop Pro Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Nano Cluster Devices Announces Major Transaction

22 November 2005

Nano Cluster Devices Announces Major Transaction

Christchurch, New Zealand, based Nano Cluster Devices Ltd (www.nanoclusterdevices.com ) announced today that it had concluded a major transaction with Buffalo-based NanoDynamics Inc (www.nanodynamics.com ).

The major components of the transaction are
* NanoDynamics takes control of US-based Nano Cluster Devices Inc and guarantees its performance in marketing the technology developed by Nano Cluster Devices Ltd. * Nano Cluster Devices Inc is granted an exclusive license to the novel cluster-based technologies developed by Nano Cluster Devices Ltd. * Nano Cluster Devices Ltd receives ongoing funding for further development work, licence and royalty revenues, and options to convert back to an ownership interest in Nano Cluster Devices Inc in certain circumstances.

NCD Ltd Director Michael Hawkins, who negotiated the deal with NanoDynamics, said "NanoDynamics are one of the leading nanotechnology companies in the world, with a very high international profile. The licensing and development agreements that have been negotiated secure market access for NCD's technology, and guarantee NCD Ltd's financial position into the medium term."

Shareholders of Nano Cluster Devices Ltd unanimously approved the transaction prior to signing.

Further details are available in NanoDynamics' US press release here .

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.