big news

http://www.morerfid.com/details.php?subdetail=Report&action=details&report_id=6293&display=RFID

[10/14/09]
MIKOH Corporation Limited reported on the progress being made by technology partner, Sirit Inc., in the Automatic Vehicle Identification ("AVI") markets of Latin America. Earlier this month, Sirit announced it has received approval to install its electronic toll collection system in the city of Buenos Aires , Argentina . This installation of 90 Sirit IDentity 5100 readers demonstrates the increasing use of Sirit's Radio Frequency Identification ("RFID") technology which is being increasingly adopted to improve legacy systems throughout South America . Sirit's growing list of installations in addition to this latest in Argentina , includes Columbia , Uruguay and [ Paraguay ].

Sirit's progress in the AVI arena augers well for MIKOH. In October 2008, Sirit and MIKOH entered a three year worldwide technology partnership, with two additional three year options, that licensed Sirit exclusively to promote and sell MIKOH's patented tamper-indication Smart&Secure technology worldwide in passive AVI systems where physically secure vehicle tags are required. In return, MIKOH is paid a sliding-scale royalty based on volume. Revenues from this arrangement have begun to flow to MIKOH this year with the incorporation of MIKOH's Smart&Secure into Sirit tag manufacturing lines at the end of 2008 for 2009 production.

By enabling seamless migration from current legacy systems, the Sirit passive RFID systems promote increased adoption of electronic tolling that lowers costs and improves revenue flow for governments implementing the new technology. The flow on effect in MIKOH's favour is the growing demand for RFID-enabled AVI tags as new users move away from cash payments and as legacy tags are replaced.

"MIKOH's Smart&Secure tamper-indication technology is perceived as a key benefit that will assist in the prevention of misuse and theft of RFID-enabled AVI tags" said Matt Blomfield, Managing Director of MIKOH. "Our technology is now entrenched in the Sirit RFID tag product offering and will be rolled out as AVI adoption escalates."

For Sirit, and by association MIKOH, timing of future revenue growth in AVI will depend on new and large customer orders which have been delayed due to continued weak global economic conditions. Sirit reported last month that progress has been achieved in places such as Brazil and Mexico and they are actively working at converting these opportunities into new revenue channels.

In addition to Sirit's business development focus in Latin America, MIKOH is directly pursuing AVI opportunities in South East Asia where a number of governments are considering the implementation of electronic vehicle registration for which tamper-evident tags will be a critical component.

About Sirit Inc.

Sirit Inc. is a leading provider of Radio Frequency Identification ("RFID") technology worldwide. Harnessing the power of Sirit's enabling-RFID technology, customers are able to more rapidly bring high quality RFID solutions to the market with reduced initial engineering costs. Sirit's products are built on more than 15 years of RF domain expertise addressing multiple frequencies (LF/HF/UHF), multiple protocols and are compliant with global standards. Automatic Vehicle identification ("AVI") related applications represent over 70% of the Company's total revenue with the remainder attributable to Radio Frequency Solutions ("RFS") related applications. For more information, visit www.sirit.com.

About MIKOH

MIKOH Corporation Limited is a leading provider of physical security and digital marking solutions and consulting services. The company works with customers to design and implement physical security solutions to track, seal and/or monitor valuable assets. Both RFID and non-RFID in nature, MIKOH solutions align proper business processes and labeling technologies to ensure assets are effectively managed with certainty.

MIKOH's Smart&Secure tamper-evident technology provides physical security certainty for RFID tags. Physical security for RFID is vital in applications where the compromise of sensitive assets results in commercial and/or revenue loss. These applications include government asset tracking, vehicle identification, pharmaceutical distribution and more. Smart&Secure is flexible, scalable and easily integrates into any RFID system.

MIKOH has offices in Melbourne and Sydney in Australia , and McLean , VA and New York , NY in the USA . For more information, visit the company's website at www.MIKOH.com.