Intevac announced it has signed a joint development agreement with a provider of glass and glass ceramic materials. The company said, "While specific details of the terms of the partnership will remain confidential, the definitive agreement signed last week includes a five-year period of exclusivity for this key customer, who will deploy the TRIO(TM) for consumer electronics applications. In order to maintain exclusivity of the TRIO(TM) platform for this market, there is a minimum revenue requirement of approximately $100 million in system sales to Intevac over the five-year period. The selling price and gross margin profile of the TRIO(TM) is similar to that of its flagship 200 Lean(R) system. Intevac will continue to develop additional customer relationships for the TRIO(TM) for other glass coating applications, such as in the automotive and point-of-sale display markets."
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