Forgent Announces Agreement with Onkyo
AUSTIN, TX, Mar 23, 2005 (MARKET WIRE via COMTEX) -- Forgent Networks (NASDAQ: FORG) along with its wholly owned subsidiary, Compression Labs, Inc. ("CLI"), today announced that it has concluded a Patent License Agreement ("Agreement") with Onkyo Corporation ("Onkyo") covering Forgent's data compression technology embodied in U.S. Patent No. 4,698,672 (the '672 Patent). Onkyo is one of the leading names in audio/video components and home theater systems throughout the world. Other terms of the Agreement were not disclosed.
Since its inception three years ago, Forgent's intellectual property program has generated more than $100 million from licensing the '672 Patent to more than 35 different companies in Asia, Europe and the United States. Forgent has also initiated litigation against 44 companies for infringement of the '672 Patent in the United States District Court for the Eastern District of Texas, Marshall Division. Subsequent to filing the litigation, three companies have entered into license or settlement agreements and have been dismissed from the civil action.
The '672 Patent relates to digital image compression, and fields of use include digital still image device used to compress, store, manipulate, print or transmit digital still images such as digital cameras, personal digital assistants, cellular telephones, printers, scanners, and certain software applications. The company's patent portfolio includes the combined inventions of Compression Labs, Inc., VTEL Corporation, and Forgent Networks, Inc.
Forgent Networks (NASDAQ: FORG) develops and licenses intellectual property and provides scheduling software to a wide variety of customers. Forgent's intellectual property licensing program is related to communication technologies developed from a diverse and growing patent portfolio. Forgent's software division, NetSimplicity provides a spectrum of scheduling software that enables all sizes of organizations to streamline the scheduling of people, places and things. For additional information please visit www.forgent.com.
SOURCE: Forgent Networks