Artificial Life (ALIF) today announced that it has agreed with 3M Company to launch three distinct pilot projects to co-develop innovative joint mobile products in 2011.
3M invested approximately $6.5 mm in October 2009 to acquire an equity stake of 10% in Artificial Life (ALIF), Inc. In addition, 3M and Artificial Life had entered into an alliance agreement outlining their intent to collaborate in the coming years on projects related to the research and development of new mobile device products and technology.
The parties intend to develop three pilot projects comes after a paid evaluation period of approximately 14 months during which Artificial Life had developed several show case and prototype mobile and augmented reality applications for a number of business units of 3M globally.
"We are honored that 3M has positively concluded the evaluation of our technology and decided to launch three pilot projects with us in the first quarter of 2011. We are looking forward to working with 3M on these projects and hopefully many more in the coming years," said Eberhard Schoneburg, CEO of Artificial Life, Inc.
Shorts will get burned, maybe not now but in the nearby future.
POSITION: LONG
Monday, January 10, 2011
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