Forgent Announces '672 Patent Settlement
AUSTIN, TX, Nov 01, 2006 (MARKET WIRE via COMTEX News Network) -- Forgent Networks (NASDAQ: FORG) today announced that Forgent and all of the parties in the cases have reached a settlement with respect to all remaining claims in the litigation relating to '672. Forgent is precluded from disclosing the terms of the agreement.
"We are satisfied with the resolution of this matter. Over the life of the '672 patent, we have collected in excess of $110M. Our focus now shifts to the November '746 patent claims construction hearing and the May 2007 jury trial and continuing to grow our NetSimplicity software business," said Richard Snyder, chairman and CEO of Forgent.
Forgent Networks (NASDAQ: FORG) develops and licenses intellectual property and provides scheduling and asset management software to a wide variety of organizations. Forgent's intellectual property licensing program is related to communication technologies developed from a diverse and growing patent portfolio. Forgent's software division, NetSimplicity, develops software that simplifies day-to-day office administration tasks. The products are specifically designed for the management and scheduling of rooms, equipment, assets and resources. For additional information please visit www.forgent.com.
This release may include projections and other forward-looking statements that involve a number of risks and uncertainties, and actual results in future periods may differ materially from those currently expected. Some of the factors that could cause actual results to differ materially include changes in the general economy or in our industry, rapid changes in technology; sales cycle and product implementations; risks associated with transitioning to a new business model and the subsequent limited operating history; the possibility of new entrants into our software markets, the possibility that the market for the sale of certain software and services may not develop as expected; or that development of these software and services may not proceed as planned; the risks associated with the company's license program, and including risks of litigation involving intellectual property, patents and trademarks. Additional discussion of these and other risk factors affecting the company's business and prospects is contained in the company's periodic filings with the SEC.
SOURCE: Forgent Networks, Inc.