(BSNS WIRE) Virgin Entertainment to License NeoMedia´s PaperClick Technology
Virgin Entertainment to License NeoMedia´s PaperClick Technology
Business Editors / High-Tech Writers
FT. MYERS, Fla.--(BUSINESS WIRE)--June 29, 2005--
NeoMedia Technologies, Inc. (OTC BB: NEOM), an innovator
in wireless services and patented technologies that provide automatic
links to Internet-based information, said today that it has reached an
out-of-court agreement and settlement with Virgin Entertainment Group,
Inc., whom it sued for patent infringement in 2004, with Virgin
agreeing to purchase a license to use NeoMedia´s patented
PaperClick(R) technology platform through 2016.
" Both companies have left the table happy and with what they
wanted," said Chas W. Fritz, founder and chairman of NeoMedia.
" NeoMedia has again seen its patent portfolio remain strong and
protected, Virgin gains the right to move forward as a licensed user
of that technology through the next decade in its music and movie
retail stores, and the lawsuit will be withdrawn."
Specific terms of the settlement and agreement were not released.
" This is an amicable settlement reached by two companies known for
innovation and technological advancements," said Mr. Fritz.
" Both NeoMedia and Virgin wanted to get about the business of
doing our own business," he said. " Today´s agreement makes that
happen, as well as lays the groundwork for NeoMedia and Virgin to work
together in the future under the PaperClick umbrella."
NeoMedia had brought suit against Virgin 18 months ago (see
" Virgin Entertainment, Virgin Megastore Online and Virgin Megastore
Are Charged with Patent Infringement by NeoMedia Technologies, Inc.,"
Business Wire, January 4, 2004), and three weeks later again gone to
court to protect its intellectual properties (see " Patent Infringement
Lawsuit Brought by NeoMedia Against AirClic Inc., Scanbuy, Inc., and
LScan Technologies Inc.," Business Wire, January 26, 2004). Late last
year, NeoMedia won a default judgment against LScan in the only other
case which has ended.
´Looking to the Future Together´
Ravi Ahuja, chief financial officer for the Los Angeles-based
Virgin Entertainment Group, Inc., said his company and NeoMedia are
" looking to the future together.
" Collaboration is always preferable to confrontation," he said.
" Virgin looks forward to working with NeoMedia and its PaperClick
technology to communicate with our customers, wherever they are and
whenever they want or need to do business with us."
NeoMedia´s Fritz said that his company " is eager to work with
Virgin to help launch its PaperClick words in the PaperClick
WordRegistry(TM) to promote new Virgin stores and to wave the flag
together."
About NeoMedia Technologies, Inc.
NeoMedia Technologies, Inc. (www.neom.com) is a developer and
international marketer of software and patented technologies,
including PaperClick (www.PaperClick.com) for Camera Phones(TM) and
the PaperClick Mobile Go-Window, which link products, print and
physical objects directly to targeted online data. NeoMedia also
offers expertise in homeland security and e-authentication
applications, and its Systems Integration Group specializes in
providing expert-based IT consulting, hardware, and software
solutions.
This press release contains forward-looking statements within the
meaning of section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. With the exception of
historical information contained herein, the matters discussed in this
press release involve risk and uncertainties. Actual results could
differ materially from those expressed in any forward-looking
statement.
PaperClick is a registered trademark, and PaperClick For Camera
Phones, PaperClick Mobile Go-Window and PaperClick WordRegistry are
trademarks of NeoMedia Technologies, Inc. Other trademarks are
properties of their respective owners.
KEYWORD: EUROPE NORTH AMERICA FLORIDA UNITED KINGDOM UNITED STATES
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE NETWORKS TELECOMMUNIC
TIONS PROFESSIONAL SERVICES BANKING CONTRACT/AGREEMENT PRODUCT/SERVICE
SOURCE: NeoMedia Technologies, Inc.
CONTACT INFORMATION:
NeoMedia Technologies, Inc.
Charles T. Jensen, +(239) 337-3434
cjensen@neom.com
or
The Kaminer Group
David A. Kaminer, +(914) 684-1934
dkaminer@kamgrp.com
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