Memjet Reaches Key Agreement

SAN DIEGO, May 4, 2012 /PRNewswire/ -- Memjet today announced a key agreement that clears the way for the continued commercialization of Memjet's revolutionary color printing technology.

Under the agreement, Memjet will assume direct ownership and control of the intellectual property portfolio related to the Memjet technology, which includes some 4,000 issued and pending global patents. Additionally, Memjet will assume direct control of all research, development and commercialization activities for Memjet technology, including services previously provided to Memjet by Silverbrook Research Pty. Ltd. from its North Ryde, facilities in Sydney, Australia. Kia Silverbrook, a co-founder of Memjet and President of Silverbrook Research, will continue to support Memjet as a special advisor to the Memjet Board of Directors and as an ongoing consultant.

"We're pleased that this agreement has been reached," said Len Lauer, president and CEO of Memjet. "With all litigation now resolved between the parties, Memjet is positioned to move forward and focus on bringing its disruptive technology to commercial, industrial and office printing markets worldwide."

Memjet has forged partnerships with some of the world's leading manufacturers and brands, including Lenovo, LG, and others. Memjet's Original Equipment Manufacturers (OEM) partner expansion is continuing at drupa, the world's largest printing industry trade show in Düsseldorf, Germany, where Memjet has jointly announced OEM news with industry leaders including Oce, a Canon Company, and Toshiba-Tec. Memjet will make more announcements during the show.

"At drupa, Memjet and our OEMs are showcasing where digital printing is headed, which is fast, affordable color printing with lower cost of ownership, reduced hardware costs, print on-demand capabilities, and environmentally friendliness—an entirely new category of color digital printing," Lauer continued. "drupa is an exciting opportunity for everyone to see Memjet's technology in action across a variety of printing solutions and learn about our latest partnership news."

Memjet's revolutionary technology has been honored with several prestigious industry awards, including Popular Science Best of What's New for 2011, the Printing Industries of America InterTech™ Technology Award, the 2011 CONNECT Most Innovative New Product Award, the Angel Award for Wide-Format Innovation from Image Reports in the UK, and most recently, the Gold Medal in the 2012 Edison Awards.

To learn more about Memjet's news announced at drupa, please visit www.memjet.com/buzz. To visit Memjet at drupa, please see us at Stand E28 in Hall 5.

About Memjet

Memjet is the global leader in color printing technologies that provide remarkable speeds and affordability. The company supplies technologies and components to OEM partners across the printing industry. Memjet maintains its corporate office in San Diego, and has offices in Dublin, Sydney, Taipei, Singapore and Boise, Idaho. The company is privately held. For more information, please visit www.memjet.com or follow us on Twitter @memjet.

Contact for Memjet:
Jeff Bean
+1-760-484-0505
jeff.bean@memjet.com

SOURCE Memjet