CAMPBELL, CA--(Marketwired - Jul 14, 2016) - Inventergy Global, Inc. (NASDAQ: INVT), an intellectual property licensing company, announced today that Inventergy Innovations, LLC, its recently-formed subsidiary, has entered into a definitive agreement with Pabellon, Inc. ("Pabellon") to become the exclusive representative and business development partner of Pabellon for its wireless power, data transfer and sensing technology and associated patents.
Pabellon's technology enables connector-less, wireless power and data transfer for mobile, IoT (Internet of Things) and lighting applications with the ability to sense presence or disturbances. This technology sends a vibrating magnetic field along the surface of objects such as desks, walls, pipes and conductive fabrics to miniaturized receiver devices that can extract power and data. Disturbances in the field are detectable by the receiver devices, enabling sensory applications such as human presence detection and touch-free controls.
Pabellon's technology is aimed at the markets for wearables, intrusion detection, toys and lighting, which are billion dollar addressable markets. According to research firm MarketsandMarkets, the wearable technology market is expected to reach $31.3 billion by 2020, with an expected compound annual growth rate of 17.8% between 2015 and 2020. MarketsandMarkets reported that the global intrusion detection system/intrusion prevention (IDS/IPS) security market was estimated at $2.7 billion in 2014 and is expected to grow to $5.0 billion by 2019.
Joe Beyers, CEO of Inventergy, stated, "This agreement with Pabellon greatly enhances our business portfolio and technology offerings. We believe this technology is applicable to many consumer markets and will provide an exciting future revenue stream for both parties." Mr. Beyers continued, "Pabellon has an innovative and creative team and we look forward to working with them. This is the second commercial agreement that Inventergy Innovations has entered into and we expect it to enter into additional agreements in the near future."
"We believe that we made a strong strategic decision with our agreement with Inventergy Innovations that is mutually beneficially to both parties," said Alex Rubin, CEO and Founder of Pabellon, Inc. "Our robust technology is very attractive and offers many advantages over other competitors in the market place. Coupled with the business development and IP strategy skills of Inventergy Innovations, we foresee a great business relationship with Inventergy going forward."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of the Company and its affiliates and subsidiaries and their respective management teams. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "should," "seek" and similar expressions and include any projections or estimates set forth herein. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, that actual results may differ materially from those projected in the forward-looking statements.