AVT Retains One LLP to Create Key Partnerships Significant revenue will be derived from over 2 million new machines
CORONA, Calif., Sept. 23, 2013 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in automated retailing systems, self-service stores and kiosks, has retained One LLP, one of the nation's leading patent litigation law firms, to begin enforcing AVT's patent on the wireless control of multiple vending machines.
AVT's patent, which has already been successfully upheld in an appeals court decision, has been forecast to become a major revenue driver within the next 24-months and beyond.
One LLP has successfully handled complex patent litigations for some of the largest corporations and organizations in the United States, including Blockbuster, Conexant, Meade Instruments, and the U.S. Navy.
AVT spent years developing software to enhance the consumer experience in an automated retailing and vending environment. The company developed a patent on the wireless management of these systems, so that owners or operators can view reports and control the units remotely.
Wireless control of machines is now built into virtually every modern automated retailing and vending system, which provides AVT with licensing opportunities on a grand scale.
Not only are there hundreds of thousands of these types of machines already in the field, but there are many more to come. A 2011 Frost & Sullivan research study published by Intel estimated global shipments of intelligent vending machines will grow at a 49% compound annual growth rate to 2016. Frost & Sullivan expects the total number of intelligent machines to reach 2 million by 2016, a clear indication that this market will continue to grow, and provide AVT with a rich source of revenues for years to come.
For more information, contact AVT at (877) 424-3663, or visit the website at: www.autoretail.com.
Forward-Looking Statements: The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are subject to significant business uncertainties, many of which are beyond our control. Such forward-looking statements use assumptions regarding future business strategies that are subject to change. Potential risks and uncertainties include but are not limited to technical advances in the industry, competitive developments, and economic conditions. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
SOURCE AVT, Inc.