Harman Signs License Agreements with New Transducers Limited
Under the first agreement, Harman acquired the exclusive rights to sublicense the UK company's NXT technology to home audio and professional audio companies based in the United States. US-based companies seeking to license the NXT technology in any of these fields will now have access only through Harman International.
The addition of the NXT technology to Harman's current intellectual property portfolio, and Harman's licensing of this technology in the US, are expected to create broader acceptance of the NXT technology.
Harman also signed a non-exclusive worldwide license with NXT to manufacture and sell products incorporating NXT's flat-panel loudspeaker technology in a variety of fields, including home audio, professional audio, and multimedia.
According to Dr. Sidney Harman, chairman of Harman International, "Licensing the NXT flat-panel loudspeaker technology expands our ability to offer our customers exciting and unique new products. We are particularly excited about offering products utilizing this technology in the home audio and multimedia fields. We are also happy to help NXT promote their technology in the United States by sublicensing this valuable technology to other companies based in the United States."
Regarding the agreement, Farad Azima, chairman of NXT and its parent company, Verity Group plc, stated that "Harman is one of the leading and most respected audio manufacturers in the world, and we are very pleased that they have chosen to license our NXT technology. We are also pleased that Harman has agreed to become the exclusive sublicensor of our technology to companies based in the United States for the home audio and professional fields of use. Harman's substantial marketing and licensing resources will help to ensure that the NXT technology is made widely available in the important American market."
Harman International Industries, Inc. designs, manufactures, and markets consumer audio products under the JBL, Infinity, Citation, Harman/Kardon, Madrigal (Mark Levinson and Proceed), Revel, and Lexicon brand names. They also sell to the professional and OEM industries.