SOURCE: ITUS Corporation

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July 15, 2015 07:00 ET

ITUS Subsidiary Auction Acceleration Corporation Enters Into Settlement and License Agreement With eBay, Vendio, & Auctiva

LOS ANGELES, CA--(Marketwired - July 15, 2015) - ITUS Corporation ("ITUS") (NASDAQ: ITUS), today announced that its wholly owned subsidiary, Auction Acceleration Corporation ("AAC"), has entered into a Settlement and License Agreement with eBay, Inc., Auctiva, LLC, and Vendio Services, LLC.

The Settlement and License Agreement resolves a lawsuit between the parties that was filed on September 8, 2014 in The United States District Court for the Northern District of California, which will be dismissed. AAC owns the rights to patents that cover presentation and cross selling technologies enabling auction sellers to cross-sell and upsell additional items to interested buyers, resulting in incremental sales and higher yields per transaction.

About ITUS Corporation

ITUS funds, develops, acquires, and licenses emerging technologies such as High-Tech, Biotechnology, Life Sciences, and Informatics. The company's wholly owned subsidiary, Anixa Diagnostics, is developing non-invasive, cancer screening tests, and the company and its other subsidiaries have ongoing development and licensing programs involving encrypted communications, advanced materials, and thin-film, flat panel displays. Additional information is available at

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