MELVILLE, NY--(Marketwired - May 01, 2013) - CopyTele, Inc. ("CTI") (OTCQB: COPY), a company specializing in patent monetization and patent assertion, today announced that its wholly owned subsidiary, Secure Web Conference Corporation, filed a patent infringement lawsuit in the Federal District Court for the Eastern District of New York against Microsoft Corporation, with respect to encryption technology utilized by Microsoft's SKYPE video conferencing service. Reports indicate that SKYPE, which was purchased by Microsoft in May of 2011 for $8.5 billion, has approximately 250 million active monthly users.
Robert Berman, CTI's President and CEO, stated, "With coverage on web conferencing technology across an industry that generates over $4 billion in annual revenue, these encryption patents are a prime example of the enormous, untapped potential at CTI. The new management team was attracted to CTI because of the tremendous value of its patents that were masked by its previous business model. We expect to launch additional assertion programs with significant revenue opportunities as we continue to mine CTI's patents, and acquire additional patent portfolios from third parties."
The Microsoft lawsuit represents the second patent assertion campaign launched by CopyTele this year, having previously initiated lawsuits against AU Optronics Corp., and E Ink Holdings in January, regarding patented electrophoretic display technologies, also developed in-house by CopyTele. Last month, CopyTele announced the acquisitions of 2 additional patent portfolios covering conversion systems for loyalty points programs such as frequent flier programs, and window frame technology commonly used in manufactured housing and replacement windows.
About CopyTele, Inc.
develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 6 patent portfolios in the areas of Key Based Encryption, E-Paper® Electrophoretic Display, Nano Field Emission Display ("NFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Point Conversion Systems, and Window Frame Construction. 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, 2012 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.