London, UK The Generics Group has sold Cambridge-based Sensopad Technologies to TT Electronics for an initial cash payment of £1.4 million together with future royalties.
Sensopad was spun out of consultants Generics in April 2001 and has developed, under patent, a number of low-cost, non-contact sensors and controllers. These sensors can be used in a range of sectors including automotive, domestic appliances, industrial, consumer electronics and children's games.
Mark Howard, CEO of Sensopad, said, “Our relationship with TT electronics means that we are now positioned to maximise the massive potential for this technology.”
Generics invests in and develops technologies in a number of areas of expertise including engineering, materials, telecommunications, life sciences, business innovation and electronics.
Its facilities include laboratories and are located in Europe in Cambridge, Frankfurt, Zürich, Switzerland and Stockholm; and in Boston and Baltimore in the USA.
UK-based TT electronics is a global electronics company supplying the world's leading manufacturers in the automotive, telecommunications, computing and industrial electronics markets.