Vringo, Inc. : VRINGO AND VIRGINIA TECH INTELLECTUAL PROPERTIES ANNOUNCE
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@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.
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.
Investors and Media:
Executive Vice President
This announcement is distributed by Thomson Reuters on behalf of Thomson
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
information contained therein.
Source: Vringo, Inc. via Thomson Reuters ONE
Press spacebar to pause and continue. Press esc to stop.