Purchases Patent From Intellectual Ventures, Gains License to Intellectual Ventures Patent Portfolio, and Becomes a Member of Strategic Defense Program
WEST PALM BEACH, Fla., NETANYA, Israel and BELLEVUE, Wash., July 30, 2012 (GLOBE NEWSWIRE) — magicJack VocalTec, Ltd. (Nasdaq:CALL) entered into a multi-part invention rights agreement with Intellectual Ventures (IV). The transaction strengthens magicJack VocalTec’s patent position and grants access to tens of thousands of patents from IV’s portfolio.
In the transaction, IV is selling a voice-over-IP (VoIP) patent which was originally invented by VocalTec and then sold to an IV company in 2008 (before magicJack merged with VocalTec). IV received cash and common shares as part of the consideration for the transaction.
magicJack VocalTec has also become a member of IV’s strategic defense program, known as IP for Defense (IPFD). By subscribing to IPFD, companies are able to access patents from Intellectual Ventures’ portfolio to defend themselves against threats of patent litigation.
“This new agreement extends a long and productive relationship between IV and magicJack VocalTec. We are able to acquire an asset, previously sold to an IV company, that is important to protecting technology at the heart of our VoIP products and services,” said Dan Borislow, CEO of magicJack VocalTec. “By working with IV, we have fortified our intellectual property foundation further protecting our business. Small technology companies in our space often find it difficult to grow into meaningful businesses without the help of companies like Intellectual Ventures.”
“We aim to work with innovative companies like magicJack VocalTec as part of IV’s program to help small- and medium-sized businesses access IP to meet their invention needs,” said Ken Lustig, vice president of Global Licensing at Intellectual Ventures. “This agreement builds upon an already successful relationship with magicJack VocalTec and Dan Borislow, an early inventor in the VOIP space, and both companies are well positioned in this rapidly growing industry.”