Vlingo Corporation Enters Into License Agreement and Patent Sale Agreement with Intellectual Ventures

Vlingo Gaining Non-Exclusive Rights to Intellectual Ventures' Vast Patent Portfolio and Purchasing Patents

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Jul 26, 2010, 08:00 ET

CAMBRIDGE, Mass. and BELLEVUE, Wash., July 26 /PRNewswire/ -- Vlingo Corporation announced today that it is entering into an agreement with Intellectual Ventures™, gaining non-exclusive rights to Intellectual Ventures' large portfolio of patents through a license agreement. In addition, Vlingo is also acquiring a significant number of patents to use for defensive purposes.

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"As we were the first company in the world building systems for unconstrained speech recognition in the mobile space, we are very happy with both the breadth and priority dates for our pending patent portfolio," said Dave Grannan, president & CEO of Vlingo. "With this announcement, we are greatly expanding our portfolio of granted patents by acquiring a significant number of patents from Intellectual Ventures for defensive uses. Unfortunately, there are companies in our space that will use intellectual property to stifle innovation, so we are collaborating with Intellectual Ventures because they are a company that catalyzes innovation through intellectual property rather than constraining innovation."

"Until recently, technology companies have had limited options when it came to gaining efficient access to the invention rights they need to maintain a competitive advantage in the marketplace," said Joe Chernesky, Vice President and General Manager of the Hardware IP Business Unit and Director of Special Programs at Intellectual Ventures. "Vlingo is an industry leader who understands the strategic value of intellectual property and worked with Intellectual Ventures to protect their business from IP threats."

Vlingo is the world's leading provider of intelligent voice applications that turn words into action enabling customers to simply speak to their phone to create and send a text or email message, search the web, update their Facebook & Twitter status and more, making data services more accessible, safer and easy to use. Acquisition of patents and access to thousands of additional patents from Intellectual Ventures will allow for innovation and product expansion.

Intellectual Ventures works with companies of all sizes to meet their unique business needs through a wide variety of products and services. With a portfolio of more than 30,000 IP assets spanning several dozen technology areas, IV combines scale and expertise to structure sophisticated deals designed to help companies strengthen their position in the market by reducing their current risk. Collaborating with Intellectual Ventures helps Vlingo protect their core business.

About Vlingo

Vlingo's intelligent voice applications turn your words into action. Simply speak to your phone to connect with the people, businesses and activities that are important to you. Vlingo is the safest and easiest way to get things done while on the go. Send text and email messages, search the web, use Google maps, update Twitter and more. Founded in 2006, Vlingo is backed by Charles River Ventures, Sigma Partners, Yahoo! and AT&T and headquartered in Cambridge, Massachusetts. For more information, go to www.vlingo.com.

About Intellectual Ventures

Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies, and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world.

www.intellectualventures.com

SOURCE Vlingo Corporation