In what is claimed to be the biggest commercial deal by a New Zealand university or Crown research institute, Auckland University has sold its spinoff HaloIPT to a wireless technology giant.
The sale to US Nasdaq-listed Qualcomm – a mobile phone computer chip company – could eventually lead to cheaper electric cars by making wireless charging technology for them more readily available.
Terms of the deal are under wraps but Peter Lee, chief executive of UniServices, the university's commercial arm, said it was larger than any done before by a New Zealand university or CRI. Just before the dot-com crash, Australian telco Telstra bought Victoria University's internet service provider company, Netlink, for A$21 million.
This year, Crown research institute IRL sold a controlling stake in its superconductor technology firm HTS-110 to Dunedin's Scott Technology for $4.4m.
But an outright sale was unusual in the academic world, said Mike Doig, a policy analyst with Science New Zealand, formerly the Association of Crown Research Institutes."A company going strictly from university ownership into somebody else's ownership – that's quite a rare event."
HaloIPT was set up about a year ago as a joint venture between engineering consultancy Arup and Auckland Uniservices to commercialise the Halo technology.
Under the Qualcomm deal, Arup and two seed capital funds will leave the company but Auckland University will retain the intellectual property rights and receive royalties.
Qualcomm will own the assets and licensing right of HaloIPT and will commit $500,000 towards supporting further research at Auckland over the next four years. Six staff building prototypes would be kept on.
NEWS BY:http://www.stuff.co.nz/technology/5939224/University-sells-off-wireless-technology
The sale to US Nasdaq-listed Qualcomm – a mobile phone computer chip company – could eventually lead to cheaper electric cars by making wireless charging technology for them more readily available.
Terms of the deal are under wraps but Peter Lee, chief executive of UniServices, the university's commercial arm, said it was larger than any done before by a New Zealand university or CRI. Just before the dot-com crash, Australian telco Telstra bought Victoria University's internet service provider company, Netlink, for A$21 million.
This year, Crown research institute IRL sold a controlling stake in its superconductor technology firm HTS-110 to Dunedin's Scott Technology for $4.4m.
But an outright sale was unusual in the academic world, said Mike Doig, a policy analyst with Science New Zealand, formerly the Association of Crown Research Institutes."A company going strictly from university ownership into somebody else's ownership – that's quite a rare event."
HaloIPT was set up about a year ago as a joint venture between engineering consultancy Arup and Auckland Uniservices to commercialise the Halo technology.
Under the Qualcomm deal, Arup and two seed capital funds will leave the company but Auckland University will retain the intellectual property rights and receive royalties.
Qualcomm will own the assets and licensing right of HaloIPT and will commit $500,000 towards supporting further research at Auckland over the next four years. Six staff building prototypes would be kept on.
NEWS BY:http://www.stuff.co.nz/technology/5939224/University-sells-off-wireless-technology
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