PlasmaTech purchases intellectual property of RF Wireless Solutions

Dec. 21, 2009 -- Wireless technology company PlasmaTech is purchasing almost all of the intellectual property of RF Wireless Solutions, a developer and manufacturer of wireless equipment. The companies announced the agreement today, Dec. 21, 2009.

RF Wireless' intellectual property included in the acquisition uses Zigbee, cellular, wi-fi, Ethernet and satellite for building security systems, building automation platforms and data/IP networks. The technology from RF Wireless has traditionally been applied for use in such systems as card access control, video surveillance and high-speed data transmission.

According to PlasmaTech's President Marvin Williams, the intellectual property is applicable for legacy systems and new IP protocol based systems, and he called the acquisition "a major turning point" for PlasmaTech. Williams indicated that the technology can be most applicable for the company's interest in delivering wireless access card readers.

The acquisition of RF Wireless' intellectual property will be paid for with $485,000 cash and 4 million shares of PlasmaTech common stock distributed over a three-year period.