TeleCommunication Systems and IPNav Client Marathon Patent Group Enter into Patent Alliance Agreement Transfers Ownership of a Portion of TCS' Wireless Data Patents to Marathon
ANNAPOLIS, Md. and DALLAS, Sept. 30, 2013 /PRNewswire/ -- TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), a world leader in highly reliable and secure mobile communication technology, and a subsidiary of Marathon Patent Group (MARA) (OTCBB: MARA) ("Marathon"), a client of IPNav, the world's leading full-service patent monetization firm, today announced that TCS and Marathon have entered into a patent alliance, whereby Marathon has acquired certain patents from TCS' wireless data patent portfolio.
- TCS' wireless technology enables the seamless synchronization of data between handheld devices, tablets, e-readers and servers.
- These patents resulted from some of the foundational wireless data development work by Aether Systems in the 1990s for secure and accurate synchronization of data between networks and handheld devices. TCS acquired the Enterprise Mobility Solutions division of Aether Systems in 2004.
- TCS also reported that it has sold three U.S. patents from its "System For An Open Architecture Development Platform With Centralized Synchronization" patent family (Patent Nos. 7,353,289; 8,127,025 and 8,224,886) to an undisclosed buyer.
TCS holds a substantial intellectual property portfolio resulting from more than 15 years of investing in mobile location, messaging, public safety and related wireless communication innovations.
TCS Chairman and CEO Maurice B. Tose said: "IPNav is one of the leading intellectual property companies in the world and has some of the most perceptive talent in their industry. Our program of working with experienced intellectual property companies like IPNav is meeting with success, as exemplified by this alliance. We will continue our efforts to maximize the potential return not just on our Aether portfolio, but on all of our patents."
IPNav CEO Erich Spangenberg said: "TCS' communication technology patents and related intellectual property offer many different opportunities for our clients. This alliance is helping TCS in its ongoing efforts to achieve fair value for its significant efforts and investments in research and development.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) is a world leader in highly reliable and secure mobile communication technology. TCS infrastructure forms the foundation for market leading solutions in E9-1-1, text messaging, commercial location and deployable wireless communications. TCS is at the forefront of new mobile cloud computing services providing wireless applications for navigation, hyper-local search, asset tracking, social applications and telematics. Millions of consumers around the world use TCS wireless apps as a fundamental part of their daily lives. Government agencies utilize TCS' cyber security expertise, professional services, and highly secure deployable satellite solutions for mission-critical communications. Headquartered in Annapolis, MD, TCS maintains technical, service and sales offices around the world. To learn more about emerging and innovative wireless technologies, visit www.telecomsys.com.
Established in 2003, IPNav is the world's leading full-service patent monetization firm, helping forward-thinking corporations, universities, organizations and individuals profit from innovation. IPNav's integrated, end-to-end solution turns idle IP assets into revenue streams. Using its proprietary Patent Monetization Platform, IPNav unlocks the value trapped in our clients' IP portfolios – with timetables and objectives set by the client.
About Marathon Patent Group:
Based in Alexandria, VA, Marathon Patent Group is a patent licensing company serving a wide range of patent owners from Fortune 500 companies to independent inventors. Marathon provides its clients advice and services that enable them to realize financial and strategic returns on their intellectual property rights. Marathon's operating subsidiaries acquire patent assets, partner with patent holders, and monetize patent portfolios through actively managed patent licensing campaigns. To learn more about Marathon Patent Group, visit http://www.marathonpg.com/.
TCS Safe Harbor Information
Except for the historical information contained herein, this news release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These statements are subject to risks and uncertainties and are based upon TCS' current expectations and assumptions that if incorrect would cause actual results to differ materially from those anticipated. Risks include without limitation the possibility that no licensing revenues will result from these efforts, and those detailed from time to time in the Company's SEC reports, including the reports on Form 10-K for the year ended December 31, 2012 and the quarter ended June 30, 2013.
Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update or revise the information in this press release, whether as a result of new information, future events or circumstances, or otherwise.
Marathon Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
SOURCE TeleCommunication Systems, Inc.