NEW YORK, July 27, 2016 /PRNewswire/ -- Soryn IP Group, LLC ("Soryn IP Group"), a patent advisory and finance firm, announced today the closing of two more patent transactions in what many consider a challenging patent market. The first is a patent licensing deal that Soryn concluded without litigation for an inventor possessing over one hundred patents, including several data storage system patents that are the subject of the licensing agreement. The second is a closed patent sale related to video compression technologies owned by a publicly traded wireless communications company. Financial terms and the identities of the parties have not been disclosed due to confidentiality restrictions. These deals follow Soryn's recently announced $10.2 M co-financing of an innovator in the cybersecurity space.
"We are so gratified to announce more closed transactions on behalf our clients, emphasized Michael Gulliford, the Founder and Managing Principal of Soryn IP Group. "In the first instance we were retained by a highly prolific inventor to sell a patent portfolio related to data storage technologies. But rather than sell outright, we were able to secure for our client a lucrative license to the portfolio without any litigation, or the threat of litigation — a rarity in today's patent market." "Although the bulk of our work to date has been on behalf of large companies, bringing our client the recognition he deserves has been extremely rewarding."
"In the second transaction, Soryn was retained by a publicly traded wireless communications company to sell a patent portfolio related to video compression technologies, and after several months closed the sale of that portfolio as well," explained Gulliford. "Working with a publicly traded company certainly requires different considerations than working with an individual inventor, but in the end we are proud to have delivered for both. We remain humbled by the diversity of clients trusting Soryn to advise and execute patent monetization strategies on their behalf."
For more information about Soryn IP Group please visit http//www.sorynipgroup.com.
ABOUT SORYN IP GROUP, LLC
Soryn IP Group is a patent advisory and finance firm that provides patent advisory, brokerage and financing solutions to clients ranging from start-ups to universities to publicly traded corporations. The company's headquarters is located in New York City.
Founder & Managing Principal: Soryn IP Group, LLC.
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SOURCE Soryn IP Group, LLC