OTC:TMLN ... Microsoft Acquires License to Timeline's Data Retrieval Patent; Timeline Vigorously Pursuing Patent Infringement Claims
BELLEVUE, Wash., June 3 /PRNewswire/ -- Timeline Inc. (OTC Bulletin Board: TMLN - news) today announced that Microsoft Corporation (Nasdaq: MSFT - news) has obtained a non-exclusive license to a patent owned by Timeline. As part of the agreement, Microsoft will be entitled to a license on additional international and domestic patents, if such patents are issued to Timeline in the future. Financial terms of the agreement were not disclosed. In related matters, Timeline continues to pursue patent infringement actions against Sagent Technologies Inc. (Nasdaq: SGNT - news) and Clarus Corporation (Nasdaq: CLRS - news).
''We believe the license negotiated with Microsoft clarifies Timeline's rights to its technology and patented inventions which apply to the automated generation of data marts. We also believe this clearly establishes Timeline as a player to be reckoned with in the data mart field. Timeline is aggressively pursuing commercialization of its patented inventions and related technology. We believe our technology represents a 'pioneer patent' in certain aspects of automating the generation of data marts. While Timeline products utilize the technology in the area of financial reporting, analysis and budgeting, the patent has broad application to data mart generation in fields other than financial analysis,'' said Charles R. Osenbaugh, president and CEO.
''Not only are we seeking licenses for Timeline products that incorporate our patented inventions, we are vigorously pursuing claims for alleged infringements. Timeline is currently in litigation with Sagent Technologies Inc., seeking damages and enjoining Sagent from any further licensing of various modules which are part of Sagent's Data Mart Solution(TM) suite. Timeline also has brought an action against Clarus Corporation seeking damages and enjoining release of Clarus(TM) View and any further licensing of Clarus(TM) Report Accelerator products,'' Osenbaugh said.
''Most importantly, Microsoft has renounced any claim of ownership interest in Timeline's patent and pending patents'' stated Osenbaugh. ''Our inventions, which are the subject matter of the patent, occurred prior to Timeline developing software on behalf of Microsoft. This agreement has removed all ambiguity regarding whether Timeline had conveyed an ownership interest in its inventions as part of delivering applications that utilize the technology to Microsoft.
''The one time Microsoft license fee and clarification of rights, along with the development and marketing support included in the transaction, are a major step forward for this company,'' Osenbaugh added. ''However, management expects earnings for the foreseeable future to continue to be lumpy. We have incurred and will continue to budget for substantial legal fees and litigation expenses over the next several years in connection with filing for patent protection and filing patent infringement claims.
''Licensing patents is not our core business, and the vast majority of our time and resources are directed at conducting business as usual, enhancing and marketing financial reporting and budgeting products based on Timeline data marts. Nevertheless, Timeline's Board of Directors and our management team has a duty to protect Timeline's intellectual property rights for the benefit of all our shareholders. With the strengthening of Timeline's cash position and financial health, there are a number of 'parties of interest' whom Timeline will research and take such actions as it deems appropriate,'' Osenbaugh concluded.
Timeline develops, markets and supports proven, Microsoft Windows-based financial management reporting software suitable for complex applications such as those found in medium to large, multinational corporations. Analyst for Microsoft Excel was developed for Windows 95, Office 97 and Windows NT and thus takes full advantage of the new operating systems from Microsoft. Timeline can be reached at 800-342-3365 or on the Web at www.timeline.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the ability to reach definitive agreements in negotiations with third-parties to market or license Timeline's technology, trends in the software market, patent infringement enforcement, obtaining further U.S. and international patent protection and other risk factors detailed in the Company's Securities and Exchange Commission filings.
NOTE: Timeline is a registered trademark of Timeline, Inc. Microsoft Windows 95, Office 97 and Windows NT are registered trademarks of Microsoft Corporation. Clarus is a trademark of Clarus Corporation. Sagent and Data Mart Solution are registered trademarks of Sagent Technologies Inc.
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