Newly-Formed Subsidiary, Inventergy Innovations, LLC, to Broaden Inventergy's IP Commercialization Model
CAMPBELL, CA -- (Marketwired) -- 05/10/16 -- Inventergy Global, Inc., a Silicon Valley intellectual property company, (NASDAQ: INVT) ("Inventergy" or the "Company"), announced today the launch of its new strategic business initiative to commercialize a broader range of intellectual assets and innovations beyond its current telecommunications industry patent assets. The Company's new subsidiary, Inventergy Innovations, LLC ("Inventergy Innovations") has entered into binding letters of intent with four companies who have unique technology and intellectual property with potentially significant market opportunities. In these engagements, Inventergy Innovations will obtain exclusive rights to the commercialization of some or all of the technology and intellectual property of these firms and will share the proceeds of the commercialization efforts with these companies. Each engagement is unique with some involving transfer of ownership of the assets and/or modest initial or ongoing progress payments.
Inventergy Founder, Chairman and CEO, Joe Beyers, said, "While we remain very optimistic about our current patent monetization efforts and opportunities, we recognize that the traditional intellectual property business model can be litigious, time-consuming and risky. A litigation centric patent licensing business typically has a 24 to 48 month time horizon to revenue. The objective of our Inventergy Innovations technology commercialization model is to obtain initial revenue within 12 months or less from initial engagement. This initiative expands our revenue opportunity and is a business model with lower up-front capital outlays and lower operating costs relative to the revenue opportunity. Our efforts thus far have already resulted in letters of intent with four companies and created a rich opportunity funnel of 10 other companies in evaluation, demonstrating the high level of interest for our unique commercialization approach."
The initial companies which have engaged with Inventergy Innovations include:
1. Pabellon Power, Inc. - owns a magnetics technology that enables connector-less, wireless power and data transfer to mobile electronic devices and lighting and the ability to sense presence or disturbances in the magnetics. This technology offers significantly lower cost solutions that facilitate design flexibility through miniaturization.
2. Inoue Office Company, Ltd. - owns a proprietary chemical formulation of nano zinc-aluminum oxide that can be used in wood preservation and termite protection, food packaging to reduce spoilage and anti-fungi/deodorant for textiles. The proprietary formulation is considered to be safer and easier to apply than current formulations used in these areas.
3. GTX Corp (OTCBB: GTXO) - owns a technology that is applicable to remotely configurable tracking and location devices including smartphones and other GPS based products that are in use today and is expected to be even more heavily deployed in the future as the wearable market grows. Collectively this represents a very sizable addressable market.
4. Lopoco, Inc. - designs and manufactures ultra efficient green-tech servers that use 75% less energy and 50% less space than conventional servers without sacrificing performance. Lopoco servers are built on proven, available technology without costly custom chips and non-conforming form factors. By lowering HVAC requirements of server installations, they offer significant cost savings and provide expansion value to companies whose data centers today are at or approaching maximum HVAC or power capacity.
The new Inventergy Innovations business initiative is being spearheaded by IP veteran Ken Cannizzaro, who recently joined the Company as President, Inventergy Innovations, LLC. Most recently, Mr. Cannizzaro was the head of the Technology Licensing program at Hewlett-Packard Company ("HP"), having previously worked for Mr. Beyers when he headed HP's IP program. Prior to that, Mr. Cannizzaro was a founding executive of IP Value. Messrs. Beyers and Cannizzaro together have closed hundreds of millions of dollars in similar IP technology commercialization transactions. One such technology was highlighted on the cover of the December, 2008 issue of IEEE Spectrum Magazine as "The Greatest Electronics Invention of the Last 25 Years."
"I am very excited about joining Joe and the Inventergy team to launch this business venture," stated Mr. Cannizzaro. "Our experience has shown that the creation, launch and sustainability of technology requires expertise beyond design to capture the technology's full commercial potential."
"We are very excited about this new dimension of Inventergy's business model, which has been in the planning stage for over six months," stated Mr. Beyers. "We believe that this model will provide accretive value and greater diversification for our stockholders."
About Inventergy Global, Inc.
Inventergy Global, Inc. ("Inventergy") 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 companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
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Source: Inventergy Global, Inc.