The Board of Directors of Nera Electronics Ltd (“the Company”) is pleased to announce that the Company has collaborated with Motorola Semiconductor Products Sector (“Motorola”) and iFoundry Systems Singapore Pte Ltd (“iFoundry”) to develop Bluetooth Solutions.
Under the joint development, the Company and iFoundry will develop complete Bluetooth hardware systems, utilizing the Company’s Radio Frequency (RF) design and manufacturing expertise, while Motorola and iFoundry will be marketing the combined technology solutions regionally.
The joint development is not expected to have any material impact on the results of the Company for the current financial year.
Mr S Chandra Das, a Director of the Company, is a director of iFoundry and is deemed to have an interest in iFoundry by virtue of his 31% interest in the holding company of iFoundry.
Save as disclosed above, none of the Directors and, to the best knowledge of the Company, none of the substantial shareholders of the Company, has any interest in the joint development