Marathon Patent Group Enters Into Patent Purchase Agreement With Siemens
LOS ANGELES, CA -- (Marketwired) -- 08/15/16 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon" or "Company"), an IP licensing and commercialization company, announced today that its wholly owned subsidiaries have acquired 307 worldwide patents from Siemens AG and certain of its affiliates, a global technology powerhouse and one of the world's preeminent engineering companies.
The first portfolio of 221 patents relate to W-CDMA and GSM cellular technology and cover all the major global economies including China, France, Germany, the United Kingdom and the United States. Significantly, many of the patent families have been declared to be Standard Essential Patents ("SEPs") with the European Telecommunications Standard Institute ("ETSI") and/or the Association of Radio Industries and Businesses ("ARIB") related to Long Term Evolution ("LTE"), Universal Mobile Telecommunications System ("UMTS"), and/or General Packet Radio Service ("GPRS").
The second portfolio of 86 patents relates to Internet-of-Things (IOT) technology. Generally, the portfolio's subject matter is directed toward self-healing control networks for building automation systems. The patents are relevant to wireless mesh networks for use in IOT, and enable simple commissioning, application level security, simplified bridging, and end-to-end IP security. The technology can support a wide variety of IOT enabled devices including lighting, sensors, appliances, security, and more.
Doug Croxall, Marathon's Chief Executive Officer, stated, "These transactions with Siemens not only materially increases our asset count to now 631 U.S. and foreign patents, with 79 patent applications, but importantly, it will expand Marathon's patent licensing activity into Asia, while remaining active in both the United States as well as countries in Europe. Many of the newly acquired assets have been declared as SEPs and we intend to assert our patent rights, wherever infringed. In addition, the transaction further diversifies Marathon's portfolio coverage into a vibrant and growing technology sector -- IOT."
About Marathon Patent Group
Marathon is an IP licensing and commercialization company. The Company acquires and manages IP rights from a variety of sources, including large and small corporations, universities and other IP owners. Marathon has a global focus on IP acquisition and management. The Company's commercialization division is focused on the full commercialization lifecycle which includes discovering opportunities, performing due diligence, providing capital, managing development, protecting and developing IP, assisting in execution of the business plan, and realizing shareholder value. To learn more about Marathon Patent Group, visit www.marathonpg.com.
About Siemens AG
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 165 years. The company is active in more than 200 countries, focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is No. 1 in offshore wind turbine construction, a leading supplier of gas and steam turbines for power generation, a major provider of power transmission solutions and a pioneer in infrastructure solutions as well as automation, drive and software solutions for industry. The company is also a leading provider of medical imaging equipment - such as computed tomography and magnetic resonance imaging systems - and a leader in laboratory diagnostics as well as clinical IT. In fiscal 2015, which ended on September 30, 2015, Siemens generated revenue of EUR 75.6 billion and net income of EUR 7.4 billion. At the end of September 2015, the company had around 348,000 employees worldwide. Further information is available on the Internet at www.siemens.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Marathon Patent Group
Source: Marathon Patent Group
Released August 15, 2016