SCHAUMBURG, Illinois
and ROANOKE, Virginia - September 25, 2000 -- Motorola,
Inc. (NYSE - MOT) announced today that it has granted an option on an
exclusive, worldwide license under U.S. Patent Number 5,359,444 entitled
"Auto-Focus Optical Apparatus" to e-Vision, LLC ("e-Vision"), a subsidiary
of The Egg Factory, LLC ("Egg Factory"). According to Ronald D. Blum,
O.D., the President and Chief Executive Officer of both Egg Factory
and e-Vision, "this Motorola intellectual property will benefit the
proprietary vision care technology currently under development by e-Vision".
The financial payment terms of the option and subsequent license involve
both cash and equity, but specific details were not disclosed. Additionally,
as part of this transaction, Motorola will be given a seat on the board
of managers of e-Vision.
e-Vision was established
to develop a potentially transformational vision care technology utilizing
programmable electro-active optics. The vision care industry is estimated
to be an annual $50 billion industry worldwide. "We believe that e-Vision's
technology, once developed has the potential to significantly impact
the entire vision care industry, as well as benefit society worldwide",
said Sunder H. Malkani, Vice President Marketing and New Business Development
of Egg Factory. Currently, e-Vision has numerous US and foreign patent
applications on file, which cover its technology.
"Motorola is looking
at licensing our technologies where we can find strategic business partners
that will take our technologies and develop healthy markets for them,"
said Keith Bergelt, Director and General Manager of Motorola's Strategic
Intellectual Asset Management. "In the past if we had no immediate need
for a new technology we simply warehoused it, today we are actively
licensing such technologies to the benefit of other companies, consumers
and Motorola's shareholders."
About Motorola
Motorola, Inc. (NYSE:MOT) is a global leader in providing integrated
communications solutions and embedded electronic solutions. Sales were
$33.1 billion. More company information is available at www.motorola.com.
About The Egg
Factory
The Egg Factory, LLC, of Roanoke, VA is a creator, developer and supplier/vendor
of substantial and transformational innovation to global Fortune 500
companies. For further information on The Egg Factory, LLC visit www.eggfactory.com.
