CAMPBELL, CA--(Marketwired - Jan 4, 2017) - Inventergy Global, Inc. (NASDAQ: INVT) (the "Company"), an intellectual property licensing and innovation company, today announced that its subsidiary, Inventergy Innovations, LLC ("Inventergy Innovations") has launched a patent licensing campaign for GTX Corp (OTCBB: GTXO) for its wireless location-based services intellectual property assets based on 2-way GPS tracking.
The licensing campaign is a follow-up to the definitive agreement announced in June 2016 in which Inventergy Innovations obtained the exclusive right to license or sell three of GTX's patents -- US 8,154,401, US 8,760,286 and US 9,219,978, commonly referred to as the "Comm. Protocol" family. The licensing campaign represents the Company's second monetization program announced by its subsidiary following the proof of concept engagement between Pabellon Power, Inc. (a company developing magnetic based wireless power and data transfer systems) and a Fortune 100 company announced on September 27, 2016.
Joe Beyers, CEO of Inventergy, stated, "In our Inventergy Innovations model we obtain exclusive rights to license or sell a partner's patents, technology or in some cases their entire company. We use various monetization execution models to create value for our partners and our stockholders. In the case of GTX, our first step is to execute on this broad patent license program while exploring other potential initiatives. We are particularly excited by this GPS-based remotely configurable tracking and location devices market. It is growing very rapidly and the wearable's sub-segment alone is projected at $8.8 billion for 2016 and expected to grow to $12.6 billion by 2019."
This campaign will provide companies interested in the Comm. Protocol family with substantial discounts for early adoption, multi-year commitments or higher volumes of products. Inventergy Innovations believes that more than 100 companies are either currently using or could find value in the GTX technology. Offer letters are being sent to the first 40 companies this week and others will be sent over the next few weeks.
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 and small companies. 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.