Forgent Announces Dismissal of Xerox Corporation from Lawsuit
AUSTIN, TX, Apr 03, 2006 (MARKET WIRE via COMTEX News Network) -- Forgent Networks (NASDAQ: FORG) along with its wholly owned subsidiary, Compression Labs, Inc. ("CLI"), today announced it has dismissed Xerox Corporation (NYSE: XRX) from the U.S. Patent No. 4,698,672 (the '672 Patent) lawsuit on mutually agreeable, confidential terms.
Forgent has pending litigation against approximately 30 companies for infringement of the '672 Patent in the United States District Court for the Northern District of California. Following the filing of the litigation, fourteen companies that were defendants have entered into license agreements.
Since its inception more than three years ago, Forgent's intellectual property program has generated more than $105 million in revenues primarily from licensing the '672 Patent to more than 50 different companies in Asia, Europe and the United States. The '672 Patent relates to digital image compression used in digital still image devices that 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