Openwave Systems Secures Uncontested Ownership of Certain Patents
Openwave Systems Inc. (Nasdaq: OPWV), a global software innovator delivering all-Internet Protocol (all-IP) mediation and messaging solutions, said it will appear this morning in the U.S. District Court in the Northern District of California to seek Court review of an agreement that would dismiss litigation which Openwave filed against Swiss-based Myriad Group AG and Myriad France SAS (“Myriad”).
Under terms of the proposed agreement, Openwave secures from Myriad the uncontested ownership of a portfolio of patents that are at the foundation of the mobile web. In exchange, Openwave agrees to pay $12 million in cash to Myriad.
The litigation grew out of a 2008 purchase by Myriad from Openwave of certain mobile phone products and the patents practiced in those mobile phone products. The agreement ends all of Myriad’s claims to Openwave’s patents and Openwave’s litigation against Myriad.
“The resolution of this litigation clears the way for Openwave to pursue, without encumbrances, one of its programs to monetize certain assets in its intellectual property portfolio,” said Anne Brennan, Chief Financial Officer of Openwave Systems.
Cautionary Note Regarding Forward Looking Statements
The statements in this press release with respect to the effects of the settlement of the litigation are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1943 and Section 27A of the Securities Act of 1933. These forward-looking statements are subject to many risks and uncertainties that could cause actual results to differ materially from those projected. Notwithstanding changes that may occur with respect to matters relating to any forward looking statements, Openwave assumes no obligation to update the forward-looking statements included in this press release except as required by law.
In particular, the following risks, among others, could cause actual results to differ materially from those projected: (a) other entities may assert rights to Openwave’s intellectual property; or (b) those risks discussed in Openwave’s filings with the U.S. Securities and Exchange Commission ("SEC"), including under the caption “Risk
Factors” in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2011. These documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at www.sec.gov or from Openwave's website at www.openwave.com.
Openwave and the Openwave logo are trademarks of Openwave Systems Inc. All other trademarks are the properties of their respective owners.
For More Information:
Investor Relations
Mike Bishop
The Blueshirt Group
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Tel: 415-217-4968
Public Relations
Vikki Herrera
Openwave Systems Inc.
Vikki.Herrera@openwave.com
Tel: 650-480-6753