joe: Following shows that XYBR defended its patents successfully...granted license to Teltronics.
Xybernaut Corp. (ticker: XYBR, exchange: Nasdaq) News
Release - Tuesday, July 20, 1999
Xybernaut(R) Grants License to
Teltronics for Wearable Computers;
Significant Future Revenues Expected
From Licensing
FAIRFAX, Va., July 20 /PRNewswire/ -- Xybernaut
Corporation (Nasdaq: XYBR), the leader in wearable
computing, today announced that it has granted a
royalty-bearing license to Teltronics (Nasdaq: TELT) and its
wholly-owned subsidiary, Interactive Solutions, Inc.
Xybernaut also announced that it was withdrawing the
related complaint against Teltronics, Interactive Solutions,
Inc. and Siemens Electrocom L.P. that was filed on June 9
in the United States District Court for the District of
Delaware.
Edward G. Newman, President of Xybernaut stated, "We are
pleased that Teltronics has entered into a licensing
agreement with Xybernaut and has recognized both the
market potential for wearable computers and the value of
our intellectual property. Now Teltronics and its partners can
go forward in the expanding market for wearable computers
without the distraction of legal
issues."
"This agreement demonstrates just one benefit of the
investments Xybernaut has made in developing four
revenue sources: licensing, hardware, software, and
customer solution services," continued Mr. Newman. "A
recent market study by a well-known research firm
concluded that in a base case scenario, the U.S. market for
wearable computers will be $600 million by 2003 with
considerable potential for a much larger market. We
believe that the markets outside the U.S. are likely to be at
least as large as the U.S. and we intend to capture a
significant portion of the world market directly or through
licensing."
James J. Ralabate, former director of patents and licensing
for Xerox Corporation and currently patent counsel for
Xybernaut added that "Xybernaut's intellectual property is
established in over 25 countries and currently consists of
several hundred patents issued or pending worldwide. While
it is our intent to aggressively license companies under our
intellectual property, we are always ready to defend against
adversarial attempts to violate Xybernaut's intellectual
property."
Mr. John Moynahan, Chief Financial Officer, concluded with:
"Xybernaut has spent a great deal of time and money to
develop its intellectual property into a valuable asset. We
are in discussions with other companies regarding licensing
this intellectual property to rapidly expand the market for
wearable computers, as well as to provide a significant
source of future revenues for Xybernaut."
About Xybernaut Corporation:
Xybernaut Corporation is the leader in providing hardware,
software and service solutions to the wearable computing
industry. The Company's patented wearable computer
allows users hands-free access to information in the
computer's internal storage, in local area networks and on
the Internet on an as-needed, where-needed basis.
Xybernaut's software is designed to provide users with the
right information needed for the task at hand using
consistent navigation techniques and screen presentations.
Xybernaut's current customers include leading Fortune 500
companies and government organizations for many mobile
knowledge delivery system applications, including
installation, maintenance and repair, diagnosis, inspection,
inventory control, manufacturing and data collection. Key
industries include manufacturing, distribution,
transportation, government, and insurance. Headquartered
in Fairfax, Virginia, Xybernaut has offices and subsidiaries
in Europe (Germany) and Asia (Japan).
This press release contains forward-looking statements
within the meaning of The Private Securities Litigation
Reform Act of 1995 (the "Act"). In particular, when used in
the preceding discussion, the words "plan," "confident that,"
"believe," "expect," or "intend to," and similar conditional
expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to
the safe harbor created by the Act. Such statements are
subject to certain risks and uncertainties and actual results
could differ materially from those expressed in any of the
forward-looking statements. Such risks and uncertainties
include, but are not limited to, market conditions, the
availability of components and production of the Mobile
Assistant, general acceptance of the Company's products
and technologies, competitive factors, the ability to
successfully complete additional financings and other risks
described in the Company's SEC reports and filings.
SOURCE: Xybernaut Corporation
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995: Statements in this press
release regarding Xybernaut Corp.'s business which are not
historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such
risks and uncertainties, which could cause actual results to
differ from those contained in the forward-looking
statements, see "Risk Factors" in the Company's Annual
Report or Form 10-K for the most recently ended fiscal
year. |
