Inventergy Global Inc (NASDAQ: INVT) is set to increase the number of its intellectual properties through the addition of 23 new patents. That comes after the company recently entered into an agreement to monetize certain patents belonging to GTX Corp (OTCMKTS: GTXO). The CEO, Joe Beyers, said these recent moves are designed to broaden and diversify revenue streams and generate more value for the shareholders.
What about the new patents?
The new 23 patents that Inventergy Global Inc (NASDAQ: INVT) is adding to its portfolio cover mobile broadband and telecommunications technologies. The company said that 15 patients in the lot of 23 belong to five families of IMS/VoIP portfolios. Those 15 patents were originally acquired through Huawei and Nokia Corp (ADR) (NYSE: NOK). The other 8 patents in the same lot of 23 belong to three patent families that relate to mobile broadband. Those 8 patents were acquired through a deal with Panasonic Corporation (ADR) (OTCMKTS: PCRFY).
Investing in portfolio expansion
Inventergy Global Inc. (NASDAQ: INVT)’s CEO Beyers said they were thrilled by the addition of the 23 patents and said that the company will continue to invest in enhancing its intellectual property portfolio. Through that, he sees an opportunity to diversify revenue streams and unlock more value for the shareholders.
The latest patent additions will further strengthen Inventergy’s position in technology licensing for 3G and 4G systems.
Third-party patent monetization Inventergy Global Inc. (NASDAQ:INVT)
In another move aimed at unlocking more revenue growth, Inventergy Global Inc. (NASDAQ:INVT) will monetize three patents owned by GTXO. Those patents relate to wearable technology. Although only three patents are initially covered in the agreement, GTXO promised to put more of its patents under the care of Inventergy over time.
As the caretaker of GTXO’s three wearable-themed patents, Inventergy will license or sell them to interested buyers. The resulting proceeds will be shared between GTXO and Inventergy, but they didn’t provide details about the ratio of sharing the revenue.
Inventergy Global Inc. (NASDAQ: INVT) is getting its hands on a portfolio of wearable patents at a time when popularity of devices such as smartwatches and fitness trackers are growing rapidly. The wearable patents could also see INVT cash in on the Internet of Things (IoT) wave.