MELVILLE, NY--(Marketwired - June 30, 2014) - CopyTele, Inc. ("CTI") (OTCQB: COPY), a company that protects the rights of inventors through patent monetization and patent assertion, today announced that it has acquired a patent portfolio covering enhanced presentation and cross selling technologies used by some of the world's leading auction sites.
Online auction sites continue to generate billions of dollars in annual revenues, fueled by professional sellers and auction centric businesses that rely on specialized tools to maximize sales. The enhanced presentation tools covered by these patents enable auction sellers to cross sell and upsell additional items to interested buyers, resulting in incremental sales and higher yields per transaction.
Robert Berman, CTI's President and CEO, stated, "One of our goals is to add patents to our arsenal that cover widely used technologies that generate significant revenue. This acquisition meets those criteria, and is expected to contribute to the financial success of our company."
The acquisition represents the 10th patent portfolio owned or controlled by CTI and its subsidiary companies. The companies currently have 33 active lawsuits across 6 patent assertion programs, including E-Paper Electrophoretic Displays, Nano Field Emission Displays, Key Based Web Conferencing Encryption, J-Channel Window Frame Construction, Loyalty Conversion Systems, and Encrypted Cellular Communications. Three of CTI's patent assertion programs have already begun to generate revenue.
About CopyTele, Inc.
CTI
develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 10 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window Frame Construction, VPN Multicast Communications, Internet Telephonic Gateway, and Enhanced Auction Technologies. Additional information is available at www.CTIpatents.com.
Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect CopyTele's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2013 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.