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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED) DECEMBER 23, 1997
UNOVA, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
DELAWARE 001-13279 95-4647021
(STATE OR OTHER (COMMISSION FILE (I.R.S. EMPLOYER
JURISDICTION NUMBER) IDENTIFICATION NO.)
OF INCORPORATION)
380 NO. CRESCENT DRIVE, BEVERLY HILLS, CALIFORNIA 90210
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA (310) 888-2500
CODE
Item 5. OTHER EVENTS.
The Registrant announced on December 23, 1997, that it has acquired
proprietary radio frequency identification (RFID) technology from
International Business Machines Corporation, which offers memory for data
storage and wireless transmission capability on a tag or label. It is
expected that this technology will further broaden the current automated data
collection (ADC)
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market by providing low-cost identification of products and processes and the
ability to update or change information stored on tags and labels. Financial
details of the transaction were not disclosed.
The Registrant plans to take an after-tax charge of approximately $12 million
before the end of 1997 to expense acquired in-process research and
development and the costs of a long-term contract related to this technology.
While the one-time charge will negatively affect the Registrant's fourth
quarter earnings, the Registrant expects that the technology and the product
and application intelligence resulting from the related contract will further
enhance its competitive position in the global ADC market.
Intermec Technologies Corporation, a subsidiary of the Registrant, intends to
develop a complete range of RFID components and products, including RFID tags
and readers, with the objective to provide systems solutions to a variety of
industries. These RFID products will also be designed for inter-connectivity
with other Intermec ADC equipment.
To provide technical support for the development of commercial products
utilizing the acquired RFID technology, the Registrant has entered into a
research and development alliance with Amtech Corporation, an engineering
company with extensive experience in the RFID technology industry. To support
this alliance the Registrant has paid $10 million for a 13 percent ownership
interest in Amtech. The two companies expect to cross-license RFID and
related technologies as
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part of their planned alliance to develop low-cost RFID products. Intermec is
also cooperating closely with other participants in the RFID industry,
supporting their programs with equipment solutions and participating in joint
efforts to create global standards.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
UNOVA, INC.
By: /s/ CHARLES A. CUSUMANO
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Charles A. Cusumano
Vice President, Finance
Dated: December 24, 1997
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