The licensing agreement allows Martin Professional to use G-LEC's LED patents and utility models covering Martin's LC 2140 and the LC 1140 LED video screens. The agreement also includes the setting up of a technology cooperation regarding the development of successors to the licensed products.
The agreement allows Martin to apply its market expertise and worldwide distribution reach to the market opportunity for LED video screens. "We are extremely pleased to have entered into this agreement with G-LEC," commented Lars Dige, chief financial officer at Martin Professional A/S. "This represents our entrance into the potentially huge market for transparent LED video screens and allows us to now market our LC Series aggressively.
"This is an important step into a new world of possibilities in the worldwide market for LED video screens and brings G-LEC's transparent, modular frame technology to a wider market. We see great potential in this cooperation. This product only covers a portion of the market potential for LED video screens however. It is our intention to expand upon this cooperation and further develop opportunities for LED video screens."
Lars Wolf, managing director at G-LEC, stated: "This agreement is an important acknowledgement of our patent portfolio for transparent LED graphic displays. G-LEC offers a wide range of products to suit very large scale LED video displays and our products department continues to develop custom installations for fixed markets. However, the strength of the Martin brand name, their well-developed distribution network and worldwide market reach will further develop the market for our products and we see great potential in this cooperation."
(Jim Evans)
