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4-Traders Homepage  >  Equities  >  Nyse  >  3M Co    MMM

3M CO (MMM)

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3M : Invests in Perceptive Pixel Inc.

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10/21/2010 | 11:20pm CET

3M, through its 3M New Ventures business, has invested in Perceptive Pixel Inc., a developer of advanced multi-touch solutions based in New York City. Terms of the transaction were not disclosed.

Founded by multi-touch pioneer Jeff Han in 2006, Perceptive Pixel is dedicated to the research, development and production of multi-touch interfaces for the knowledge worker. The company's hardware and software products enable users to manipulate complex datasets through a new class of intuitive, powerful and visually rich interface techniques. The combination of its technologies with those of 3M will create incredible new opportunities for both companies.

?Perceptive Pixel has developed advanced technologies to enable intuitive multi-user, multi-touch interaction,? Stefan Gabriel, president, 3M New Ventures, said. ?This strategic investment will create potential growth opportunities for the 3M Touch Systems business unit, stimulating future innovations in a variety of industries that use multi-touch devices.?

?Perceptive Pixel is at the forefront of multi-touch, seen as cutting-edge pioneers with this revolutionary user interface,? said Voyl Divljakovic, vice president and general manager, 3M Electronic Solutions Division. ?Coupled with 3M Touch Systems' industry-leading single-touch, gesture touch and multi-touch screen solutions, we believe this partnership will change the way users interact with a variety of technologies in the years to come.?

?We recognize 3M Touch Systems as a global technology leader in the touch industry, particularly with its projective capacitive technology (PCT) products,? said Jeff Han, founder, Perceptive Pixel Inc. ?We are excited to partner with a company that shares our strong commitment to innovation and look forward to working together to push the boundaries of multi-touch solutions.?

To see Perceptive Pixel multi-touch solutions in action on 3M Projected Capacitive Technology, see the video at http://www.3m.com/touchPPI.

For more information about 3M MicroTouch products, visit www.3M.com/touch. For an overview of popular touch technologies and terminology, visit www.touchtopics.com.

Forward-Looking Statements
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any statements of the future plans, strategies and objectives of management. Other risks, uncertainties and assumptions are described in 3M's SEC reports, including but not limited to the risks described under ?Risk Factors? in Part I, Item 1A of the Annual Report on Form 10-K for its fiscal year ended December 31, 2009 and in Part II, Item 1A in the Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2010 and June 30, 2010. 3M assumes no obligation and does not intend to update these forward-looking statements.

About Perceptive Pixel
Perceptive Pixel was founded in 2006 by Jeff Han, a recognized leader in the touch technology field, and focuses on the research, development and production of multi-touch interfaces for the knowledge worker. The company's patent-pending technologies enable users to manipulate complex datasets through intuitive, powerful and visually rich interface techniques. The company's products are used in broadcast, defense, energy exploration, geo-intelligence, industrial design and medical imaging. The company's large screen, multi-touch products gained early recognition for transforming the way CNN covered the historic 2008 US Presidential elections. Perceptive Pixel was awarded the 2009 National Design Award from the Smithsonian in the inaugural category of Interaction Design.

Perceptive Pixel is privately held and headquartered in NYC with offices in DC, Portland, and Palo Alto. For more information, visit www.perceptivepixel.com.

About 3M
A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $23 billion in sales, 3M employs 75,000 people worldwide and has operations in more than 65 countries. For more information, visit www.3M.com, or follow @3MNews on Twitter.

MicroTouch is a trademark of 3M.

3M
Media Contacts:
Donna Fleming Runyon, 651-736-7646
or
Jennifer Balthrop, 512-984-2146
or
Investor Contacts:
Matt Ginter, 651-733-8206
or
Bruce Jermeland, 651-733-1807


© Business Wire 2010
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Sales 2016 30 123 M
EBIT 2016 7 249 M
Net income 2016 5 038 M
Debt 2016 10 032 M
Yield 2016 2,48%
P/E ratio 2016 21,88
P/E ratio 2017 20,66
EV / Sales 2016 3,90x
EV / Sales 2017 3,88x
Capitalization 107 356 M
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Average target price 189 $
Spread / Average Target 5,8%
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NameTitle
Inge G. Thulin Chairman, President & Chief Executive Officer
Hak Cheol Shin Executive Vice President-International Operations
Nicholas C. Gangestad Chief Financial Officer & Senior Vice President
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