WPNE
First deal with COMS, now this. Only 4 million in the float:
White Pine Acquires From Cornell University Full Intellectual Property Ownership Rights to CU-SeeMe and MeetingPoint Technologies
BusinessWire, Wednesday, December 02, 1998 at 08:06
NASHUA, N.H.--(BUSINESS WIRE)--Dec. 2, 1998--
Deal Strengthens White Pine's Position as Videoconferencing Leader
White Pine Software, Inc. (NASDAQ:WPNE), a leading provider of
multimedia conferencing applications for the Internet and intranets,
today announced that it has signed an agreement with Cornell
University to acquire complete ownership of the trademark, source code
and all intellectual property rights to the CU-SeeMe and MeetingPoint
technologies.
"We're committed to growing and nurturing the CU-SeeMe community,
and owning our own key technology is a major strategic focus for us as
we continue to develop cutting edge conferencing solutions for the
business, education and consumer markets," said Killko Caballero,
President of White Pine Software. "Following our Labtam acquisition of
T.120 data collaboration technology, this strengthens White Pine's IP
portfolio. Owning the rights to these products will enable White Pine
to further develop the underlying technologies and strengthen White
Pine's leadership in the industry."
CU-SeeMe was created by Cornell University in 1993 when they set
out to develop the first Internet-based videoconferencing product. In
1995, White Pine was granted exclusive license to commercially develop
CU-SeeMe into the successful conferencing product that it is today.
Cornell also developed the underlying technology for the Reflector
server, which White Pine has transformed into MeetingPoint, the
industry's first H.323 standard conferencing server for multipoint
group conferencing. White Pine has taken the underlying technologies
of these products and turned them into award-winning products used by
businesses, educational institutions and consumers worldwide. White
Pine will continue to protect the name and integrity of CU-SeeMe and
MeetingPoint as it delivers new products built around these
technologies.
"As Internet communication has grown, CU-SeeMe has been the icon
for Internet videochat and has developed a very strong and loyal user
community," said Richard Cahoon, Vice President of Cornell Research
Foundation and Associate Director of the Office of Patents and
Technology Marketing for Cornell University. "We're pleased to be
turning CU-SeeMe over to White Pine Software so that they can continue
to support the user community as well as continuing to develop
quality, easy-to-use videoconferencing products for a broad spectrum
of users."
The acquisition of ownership rights to CU-SeeMe and MeetingPoint
complements White Pine's recent acquisition of T.120 technology from
Labtam Communications, demonstrating the company's drive to own key
technology components and to remain a leader in the videoconferencing
industry. |
