Alticor Subsidiary Acquires Assets of Splashpower Ltd. in Administration

Acquisition Bolsters Fulton Innovation's Industry-Leading Patent Portfolio

in the Wireless Power Technology Industry



May 05, 2008, 01:00 ET from Fulton Innovation

    ADA, Mich., May 5 /PRNewswire/ -- Alticor Inc. today announced that one
 of its subsidiaries has acquired the business and assets of Cambridge,
 U.K.-based Splashpower Limited in Administration (Splashpower), a developer
 of wireless power technology. Terms of the deal were not disclosed. Alticor
 owns Fulton Innovation, the exclusive licensor of eCoupled(TM) Intelligent
 Wireless Power technology.
 
     The acquisition reinforces Fulton's industry-leading position in the
 rapidly growing wireless power industry by expanding both the breadth and
 depth of Fulton's substantial patent portfolio, comprised of over 250
 patents granted or pending worldwide.
 
     "Today's acquisition reaffirms Fulton's commitment to the continued
 development and commercialization of wireless power," said Dave Baarman,
 director of advanced technologies for Fulton Innovation. "By combining our
 own robust patent portfolio with Splashpower's, we continue to strengthen
 and expand our capabilities in the development of wireless power as well as
 our global presence. We are extremely fortunate to have the backing and
 support of our parent company, Alticor."
 
     The assets of Splashpower were acquired out of the Administration
 process. Graham P. Bushby and Lynn R. Bailey of accountancy and business
 advisory firm Baker Tilly were appointed Joint Administrators for
 Splashpower on March 26, 2008.
 
     Alticor Inc. was advised by Bryan Cave LLP on the transaction.
 
     About Fulton Innovation and eCoupled(TM) Technology
 
     A subsidiary of Alticor, Fulton Innovation is dedicated to
 commercializing new and innovative technologies that improve the way we
 live, work and play. Fulton is working with a wide range of
 industry-leading companies to integrate eCoupled technology into
 infrastructure and electronic devices to enable consumers to live a truly
 wireless life.
 
     The engineers behind eCoupled have been developing, advancing, and
 perfecting the technology for over 10 years. eCoupled technology has been
 incorporated into Amway's eSpring(TM) water purification devices for seven
 years, with over 1.5 million devices sold in over 36 countries worldwide to
 date.
 
     Alticor employs more than 13,000 people worldwide, including over 450
 engineers and scientists. Alticor has sales of more than $7 billion
 annually. It is headquartered in Ada, Michigan and has operations in more
 than 80 countries and territories worldwide.
 
     For additional information, please visit fultoninnovation.com or
 ecoupled.com.
 
     About Splashpower
 
     Privately held Splashpower Ltd., based in Cambridge, U.K., was a leader
 in wireless power technology development and a public pioneer and early
 champion for commercialization of wireless power technology. Its inductive
 charging technology enables power to be transferred without wires to a
 range of mobile devices.
 
 
 

SOURCE Fulton Innovation