VRINGO AND VIRGINIA TECH INTELLECTUAL PROPERTIES ANNOUNCE PARTNERSHIP
(Thomson Reuters ONE) -
Vringo to Develop Wireless Technology for First Responders
NEW YORK - March 19, 2013 - Vringo, Inc. (NYSE MKT: VRNG), a company engaged in
the innovation, development and monetization of mobile technologies and
intellectual property, today announced a partnership with Virginia Tech
Intellectual Properties (VTIP), the licensing arm of Virginia Polytechnic
Institute and State University, commonly known as Virginia Tech.
Through the partnership, VTIP has provided exclusive rights to patented wireless
technology that will enable Vringo to conduct related research and development
and secure future licensing rights. This technology was developed at Virginia
Tech's Wireless(at)VT research group, one of the largest university wireless
research groups in the United States. The technology was funded in part under a
grant from the National Science Foundation. The National Science Foundation is
an independent federal agency created by Congress to promote the progress of
science, advance the national health, prosperity, and welfare, and secure the
national defense.
Vringo will lead the research and development efforts for the technology.
"Virginia Tech is a top academic and research institution. Vringo's partnership
with VTIP furthers our mission to support research and innovation of cutting
edge wireless technologies," said Ken Lang, Chief Technology Officer of Vringo.
"These new patents are complementary to Vringo's extensive world-wide patent
portfolio covering wireless telecommunications infrastructure," Mr. Lang added.
"VTIP is pleased to partner with Vringo to further develop this technology as a
cornerstone for future cell phone systems," noted Mark Coburn, President of
VTIP. "Vringo has just the characteristics we are looking for to help us take
emerging technologies to market."
Upon further development, the patented technology could potentially enable first
responders to quickly set up a wireless network in areas where telecommunication
infrastructure has been destroyed or rendered inoperable. Through this
technology, rescue workers and people in need of help could remain in
communication with each other and the outside world. The technology may also
have consumer applications, allowing for wireless communication in areas where
wireless service is limited or unavailable, such as subways, tunnels, or remote
locations.
The licensed patents are U.S. Patent 7,289,972, entitled "Cognitive Radio Engine
Based On Genetic Algorithms In A Network" and U.S. Patent 8,094,610, entitled
"Dynamic Cellular Cognitive System." In August 2012, Vringo expanded its patent
portfolio with the acquisition of over five hundred patents and patent
applications covering telecommunications infrastructure.
About Virginia Tech Intellectual Properties
Formed in 1985 as an affiliated corporation of Virginia Tech, Virginia Tech
Intellectual Properties is passionate in its pursuit of excellence in technology
commercialization, creating market opportunities from scientific innovation. It
strives to make a positive contribution to society through its expertise in
protecting, marketing and commercializing technology and innovation. Its goal is
to pursue innovative strategies to help translate scientific progress into
tangible products, while returning income to the inventor and Virginia Tech to
support further research and education. VTIP facilitates the licensing of
technology to companies, encourages new faculty startup ventures, works with
publishers and distributors of software, and supports the transfer of research
and knowledge to other universities, research institutes and companies.
About Vringo, Inc.
Vringo, Inc. is engaged in the innovation, development and monetization of
mobile technologies and intellectual property. Vringo's intellectual property
portfolio consists of over five hundred patents and patent applications covering
telecommunications infrastructure, internet search, and mobile technologies.
The patents and patent applications have been developed internally, and
acquired from third parties. Vringo operates a global platform for the
distribution of mobile social applications and services. For more information,
visit: www.vringoIP.com.
Forward-Looking Statements
This press release includes forward-looking statements, which may be identified
by words such as believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
subject to risks and uncertainties, which could cause actual results to differ
materially from the forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are not limited to:
the inability to realize the potential value created by the merger with
Innovate/Protect for our stockholders; our inability to raise additional capital
to fund our combined operations and business plan; our inability to monetize and
recoup our investment with respect to patent assets that we acquire; our
inability to maintain the listing of our securities on the NYSE MKT; the
potential lack of market acceptance of our products; our inability to protect
our intellectual property rights; potential competition from other providers and
products; our inability to license and monetize the patents owned by our
subsidiaries; our inability to monetize and recoup our investment with respect
to patent assets that we acquire; and other risks and uncertainties and other
factors discussed from time to time in our filings with the Securities and
Exchange Commission ("SEC"), including our quarterly report on Form 10-Q filed
with the SEC on November 14, 2012. Vringo expressly disclaims any obligation to
publicly update any forward-looking statements contained herein, whether as a
result of new information, future events or otherwise, except as required by
law.
Contacts:
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
(646) 532-6777
cweinstein(at)vringoinc.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vringo, Inc. via Thomson Reuters ONE
[HUG#1686212]
Unternehmensinformation / Kurzprofil:
Datum: 19.03.2013 - 14:00 Uhr
Sprache: Deutsch
News-ID 240916
Anzahl Zeichen: 7630
contact information:
Town:
New York
Kategorie:
Business News
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