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TheStreet Open House

Spherix Acquires Over 100 Patents And Patent Applications Portfolio From Rockstar Consortium

Stocks in this article: SPEX

TYSONS CORNER, Va., Jan. 6, 2014 /PRNewswire/ --  Spherix Incorporated (NASDAQ: SPEX)  -- an intellectual property development company committed to the fostering and monetization of intellectual property, announced that it has entered into a series of agreements with Rockstar Consortium (US) LP in which Spherix Incorporated acquired over 100 patents and patent applications.  The newly acquired patents cover among other things, numerous aspects of access, switching, routing, optical and voice communication network devices.

(Logo: http://photos.prnewswire.com/prnh/20131104/PH08853LOGO )

Anthony Hayes, Spherix CEO, stated "This addition of over 100 patents and applications from Rockstar solidifies our relationship with Rockstar and transforms Spherix into one of the most IP rich public companies today.  Based on our analysis arising from our discussions with Rockstar, we believe the portfolio acquired of over 100 patents and patent applications are found in technology used daily by consumers and businesses, as they cover the way traffic, video and voice are carried over public and private networks.  As a company we can not stress enough the value of these assets and the opportunity it presents for all our shareholders and team."

John Veschi, CEO of Rockstar stated, "We believe this is a very valuable patent portfolio, containing both industry standard patents and patents found in product implementations of various Internet service and network device vendors throughout the world.  To assist in the effective commercialization of the over 4,000 patents owned by Rockstar, we are excited to be working with Spherix on this transaction while we continue to directly commercialize the balance of our portfolio."

In addition, certain patents and applications in the portfolio complement the Rockstar patents previously acquired by Spherix and will further support our current licensing efforts. Rockstar is also sharing usage information with Spherix for the transferred patents, and will assist Spherix in working with the patents' inventors, to assist Spherix's commercialization efforts.

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