Dallas, Texas 04/15/2014 (FINANCIALSTRENDS) – InvenSense Inc (NYSE:INVN) announced last week that it will announce is fourth quarter and full year 2014 operational results on 1st May. The tech power house is into the design and manufacture of new age tech like motion tracking chips and attendant sensor systems. It has also set up an analyst call on the same day.
During the earnings call, InvenSense, Inc. (NYSE: INVN) is expected to share insights into the progress that its strategic tie up with Sonion A/S has managed to post since the announcement was made on 27th March. The tie up involves joint development of MEMS Microphones and its underlying technology, which would in turn find extensive use in various hearing devices and apps. The San Jose based firm will contribute its extensive technical knowhow including the knowledge base surrounding the MEMS technology, the Sonion team will bring in its resource base surrounding the high performance microphones which it has mastered over the past few years.
As per the terms of the agreement, the smaller firm will hold complete rights to sell and monetize the use of the “yet to be developed MEMS microphone based products” into hearing aids, while InvenSense Inc (NYSE:INVN) will hold on to the rights to sell the same product sets into other hearing and micro phone requiring segments.
Expressing his happiness at the tie up, InvenSense Inc (NYSE:INVN) President & CEO Behrooz Abdi had been quoted to have said that, “As the demand for MEMS solutions for hearing aids, hearing aid accessories, assistive listening/alerting and signaling system continues to rise, this alliance will have the joint benefit of accelerating both technology and customer access to bring the highest performance MEMS microphone technology to the hearing aid industry.”
Since the announcement of the tie up the stock of has entered the negative domain, and has reported a 1.87 dip in its share price since 15th Of March this year.