Microvision receives $8M license fee for PicoP technology MicroVision announced it has received an $8M license fee payment from its Fortune Global 100 partner. The up-front license fee is part of a multi-year license agreement MicroVision announced earlier this month with its Fortune Global 100 partner for MicroVision PicoP display technology. The license agreement grants the Fortune Global 100 company a non-exclusive license to MicroVision PicoP display technology for use in display modules it manufactures and sells. In addition to the initial upfront license fee, MicroVision would also receive royalties for display modules sold by the Fortune Global 100 company. Further terms of the license agreement are confidential for competitive reasons.
Microvision receives $14.5M in component orders MicroVision announced it has received orders totaling $14.5M for components for its Fortune Global 100 customer. MicroVision plans to begin shipment of components for these orders in 2H and expects fulfillment to continue into 2016. MicroVision and its Fortune Global 100 customer recently entered into a licensing agreement whereby MicroVision granted a non-exclusive license to its patented PicoP display technology to the Fortune Global 100 company. The components MicroVision is selling to its customer are expected to be incorporated into display modules the Fortune Global 100 has developed. MicroVision will also be entitled to royalty payments upon any sales by its customer of the display modules. MicroVision is currently fulfilling component orders received in 2H14 for this same customer.