Spherix to Partner With World Famous Rockstar Consortium
TYSONS CORNER, VA -- (Marketwired) -- 07/17/13 -- Spherix
Incorporated (NASDAQ: SPEX) -- an intellectual property development
company, today announced it has entered into a definitive agreement
with Rockstar Consortium, the owner of the world famous Nortel
Networks patent portfolio of over 4,000 patents, to acquire a suite
Through the Rockstar Consortium transaction, Spherix will
substantially increase its intellectual property portfolio and be
positioned to enhance its opportunities for revenue generation
through the monetization of these assets.
"We are very excited to partner with Rockstar. Spherix's acquisition
is even more significant because in addition to this suite of patents
Rockstar has agreed to become a shareholder of Spherix." said Harvey
Kesner, Spherix CEO. Mr. Kesner continued, "We expect to bring our
first action against known infringers within 30-60 days." The terms
of the transaction were not disclosed.
Rockstar Consortium was launched in 2011 as an
intellectual property (IP) licensing company. Based on Nortel
Networks' groundbreaking innovation engine, Rockstar manages a highly
valued patent portfolio relevant to virtually all telecom and high
tech services and devices. Rockstar is deeply committed to advancing
innovation worldwide through its patent licensing program. To learn
more about Rockstar please visit www.ip-rockstar.com.
Spherix Incorporated was launched in 1967 as a
scientific research company. Spherix presently offers a diversified
commercialization platform for protected technologies. The company
continues to work on life sciences and drug development and presently
is exploring opportunities in nutritional supplement products relying
on its D-Tagatose natural sweetener as a GRAS ingredient. Spherix is
committed to advancing innovation by active participation in all
areas of the patent market. Spherix draws on portfolios of pioneering
technology patents to partner with and support product innovation.
Through its recently announced acquisition of several hundred patents
issued to Harris Corporation Spherix intends to expand its activities
in wireless communications and telecommunication sectors including
antenna technology, Wi-Fi, base station functionality, and cellular.
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.
Phone: (703) 992-9325
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