MELVILLE, NY--(Marketwired - April 30, 2014) - CopyTele, Inc. ("CTI") (COPY), a company that protects the rights of inventors through patent monetization and patent assertion, today announced that its wholly owned subsidiary, Secure Web Conference Corporation ("SWCC"), has entered into a Settlement Agreement with Logitech, Inc., in connection with SWCC's patented Key Based Web Conferencing Encryption technology.
Robert Berman, CTI's President and CEO stated, "This Agreement is the first settlement in connection with our Key Based Web Conferencing patents, a technology that was developed in-house at CTI. This is the first assertion revenue that we have generated from the treasure trove of legacy patents that we inherited at CTI, and with our upcoming November 10 trial date for our case against AU Optronics regarding our EPD and nFED patents, we expect the trend to continue."
Logitech purchased web conferencing company LifeSize Communications in 2009 for $405 million, and Logitech's LifeSize division reported revenue of $137 million in fiscal 2013. The Settlement Agreement resolves a patent infringement lawsuit filed by SWCC against Logitech on July 9, 2013, which will be dismissed.
CTI has now generated revenue from 3 out of its 5 patent assertion programs. CTI's subsidiary companies have entered into 9 revenue producing licensing agreements, and currently have 32 active lawsuits across 5 patented technologies including E-Paper Electrophoretic Displays, Nano Field Emission Displays, Key Based Web Conferencing Encryption, J-Channel Window Frame Construction, and Loyalty Conversion Systems.
About CopyTele, Inc.
CTI develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 9 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, and Internet Telephonic Gateway. Additional information is available at www.CTIpatents.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2013 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.