MicroVision and Intersil Partner to Offer Highly Efficient PicoP® Display Solution Optimized for Mobility

Partnership strengthens PicoP display technology cost and performance roadmap

REDMOND, Wash. & MILPITAS, Calif.--(BUSINESS WIRE)-- MicroVision, Inc. (NASDAQ:MVIS), a leader in innovative ultra-miniature projection display technology and Intersil Corporation (NASDAQ Global Select: ISIL), a world leader in the design and manufacture of high performance analog and mixed signal semiconductors, today announced an agreement to partner on the development of advanced, integrated chipsets (ASICS) for MicroVision’s patented high definition (HD) PicoP^® display technology. This collaboration is expected to strengthen the technology and business roadmap for PicoP display technology by:

• integrating advanced features such as virtual touch and proximity sensing
• increasing brightness
• reducing power consumption and component size
• lowering the cost of the overall solution.

The combination of increased brightness, low power consumption and small component size together with HD resolution produces a highly efficient projection solution that makes PicoP display technology an optimal choice for embedding in mobile devices. Under the agreement announced today, Intersil will invest in developing the ASICs supporting the solution based on MicroVision’s reference design.

“MicroVision is pleased to partner with Intersil to progress our award winning PicoP display technology on its roadmap, and to work with a strategic supply chain partner that is providing strong marketing and distribution support as well as best in class components,” said Alexander Tokman, president and CEO of MicroVision. “The development and marketing investments Intersil is making in this partnership demonstrate its belief in the pico projection market and MicroVision’s patented solution.”

“Our collaboration with MicroVision demonstrates Intersil’s commitment to the pico projector market to provide compelling solutions for embedded applications,” said Dave Bell, president and CEO of Intersil. “We believe the combination of our chipset and MicroVision’s advanced PicoP display capabilities with game changing features will have great appeal in a broad range of emerging pico projector devices.”

MicroVision’s PicoP display technology, now in its second generation (PicoP Gen2), produces always-in-focus, HD images using the company’s patented scanned beam approach. OEMs and ODMs can receive samples of PicoP Gen2 display engines today. One of the distinguishing features of PicoP display technology is its “beyond projection” features such as interactive touch that could enable the development of applications that extend the use model of mobile devices for business and entertainment. Companies that license MicroVision’s display technology now will have early access to the significant advances enabled by the electronics being developed under this strategic agreement.

About MicroVision

MicroVision provides the PicoP® display technology platform designed to enable next-generation display capabilities for consumer devices and vehicle displays. The company's PicoP display technology uses highly efficient laser light sources which can create vivid images with high contrast and brightness.

MicroVision is an independently recognized leader in the development of intellectual property. MicroVision has been recognized by IEEE as a top 20 IP portfolio among all global electronics companies, and the top U.S. Company in the rankings. MicroVision’s intellectual property portfolio has also been recognized by the Patent Board, in association with the Wall Street Journal as a top 50 IP portfolio among all global industrial companies. The Patent Board has developed more than 50 indicators that track global patent activity relating to companies' innovation, technology, and science strengths. MicroVision’s intellectual property portfolio is further recognized by having been added to the Ocean Tomo 300 Patent Index. The Index is priced and published by the NYSE Euronext (NYSE: OTPAT). The index is objectively based on the value of intellectual property compared to competitors.

About Intersil

Intersil Corporation is a leader in the design and manufacture of high-performance analog, mixed-signal and power management semiconductors. The company's products address some of the fastest growing markets within the industrial and infrastructure, personal computing and high-end consumer markets. For more information about Intersil or to find out how to become a member of our winning team, visit our website and career page at www.intersil.com.

MicroVision and PicoP® are trademarks of MicroVision Inc. in the United States and other countries. Intersil and the Intersil logo are trademarks or registered trademarks of Intersil Corporation. All other trademarks are the properties of their respective owners.

Forward-Looking Statements

Certain statements contained in this release, including those relating to future products, product features and applications, and those using words such as “designed to,” “expected to,” “believe” and “could” are forward-looking statements that involve a number of risks and uncertainties. Factors that could cause actual results to differ materially from those projected in the forward-looking statements include the following: our ability to raise additional capital when needed; our customers failure to perform under open purchase orders; our financial and technical resources relative to those of our competitors; our ability to keep up with rapid technological change; government regulation of our technologies; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain additional contract awards; the timing of commercial product launches and delays in product development; the ability to achieve key technical milestones in key products; dependence on third parties to develop, manufacture, sell and market our products; potential product liability claims; and other risk factors identified from time to time in the company's SEC reports, including the company's Annual Report on Form 10-K filed with the SEC. Except as expressly required by federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changes in circumstances or any other reason.

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MicroVision investors:
Jeff Wilson, 425-882-6629
or
MicroVision media:
Edelman
Callie Snyder, 503-471-6816
or
Intersil media:
Kelly Maxwell, 408-546-3582

Source: MicroVision, Inc.

Released September 5, 2012