VRINGO SUBSIDIARY FLICHARGE AND LEADING SMART FURNITURE MANUFACTURER BRETFORD EXTEND AND EXPAND LICENSING RELATIONSHIP
October 26 2015 - 10:15AM
Bretford to
Incorporate Technology for Education, Healthcare, Office and Retail
Markets
NEW YORK - October 26, 2015 -
Vringo, Inc. (NASDAQ: VRNG), a company engaged in the innovation,
development and monetization of intellectual property as well as
the commercialization and distribution of wire-free charging and
rugged computing devices, today announced that its subsidiary,
fliCharge, is extending and expanding its license agreement with
Bretford Manufacturing.
In March 2014, Bretford entered
into a license agreement to fliCharge's wire-free technology
solutions. The terms of the agreement have been altered such that
Bretford will have an exclusive license to embed fliCharge's
wire-free charging solutions into furniture in markets including
healthcare, commercial office, retail and educational facilities as
well as contract furniture manufacturing. fliCharge intends to
facilitate the launch by providing charging cases for phones and
tablets to Bretford and its customers.
Bretford will be presenting the
first commercially available implementation of this technology at
NeoCon, North America's largest design exposition and conference
focused on commercial interiors, in June of 2016.
"fliCharge's conductive wire-free
technology addresses a major need of our education, healthcare,
office and retail facilities customers - the need to easily and
safely charge many devices without the clutter of cables and the
difficulty of charging docks or stations. We intend to integrate
this unique technology into our smart furniture and look forward to
building upon our relationship with fliCharge and Vringo," said
Chris Petrick, President and CEO of Bretford.
"We are delighted to have a
partner like Bretford who is a leader in smart furniture," said
Andrew Perlman, CEO of Vringo. "We look forward to commercial
launches of our technology through this unique partnership in
2016," Mr. Perlman concluded.
About Vringo,
Inc.
Vringo, Inc. is engaged in the
innovation, development and monetization of intellectual property
as well as the commercialization and distribution of wire-free
charging and rugged computing devices. Vringo's intellectual
property portfolio consists of over 600 patents and patent
applications covering telecom infrastructure, internet search,
ad-insertion, mobile and wire-free charging technologies.
Vringo's subsidiary fliCharge is dedicated to the licensing and
commercialization of wire-free charging technologies. Vringo's
subsidiary Group Mobile is dedicated to the marketing and sale of
rugged computing devices. For more information, visit:
www.vringo.com.
About Bretford
Manufacturing, Inc.
Bretford is a manufacturer of
furniture for both learning and work environments. Founded in 1948
and headquartered in Franklin Park, IL, Bretford holds close to
seven decades of expertise dedicated to the design and manufacture
of sustainable furniture solutions that are made in the U.S.A. Each
furniture design is built for quality and mobility so rooms, people
and information can move and still stay connected.
With nearly 350 employees and
450,000 square feet of production space, the company offers smart
furniture designs that support evolving technology, enabling
institutions, organizations and corporations to increase
productivity and efficiency. Superior workmanship and
environmentally-compliant manufacturing and operation practices
ensure dependable Bretford products, many of which
are GREENGUARD Indoor Air Quality Certified®. The
company is committed to using less energy, creating less waste and
reducing its carbon footprint. Bretford is
a CarbonNeutral®certified
company and its EDU 2.0 line is among the first in the
contract furniture industry to achieve CarbonNeutral product
certification. All Bretford products are backed by a 12-year
standard warranty.
Forward-Looking
Statements
This press release includes
forward-looking statements, which may be identified by words such
as "believes," "expects," "anticipates," "estimates," "projects,"
"intends," "should," "seeks," "future," "continue," or the negative
of such terms, or other comparable terminology. Forward-looking
statements are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are
not limited to: our inability to license and monetize our patents,
including the outcome of the litigation against ZTE and other
companies; our inability to recognize the anticipated benefits of
the acquisition of IDG, which may be affected by, among other
things, competition, our ability to secure advantageous licensing
and sales agreements, market acceptance of IDG's technology,
potential technology obsolescence, protection of intellectual
property rights and potential liability risks that are inherent in
the marketing and sale of products used by consumers; our inability
to monetize and recoup our investment with respect to patent assets
that we acquire; our inability to develop and introduce new
products and/or develop new intellectual property; our inability to
protect our intellectual property rights; new legislation,
regulations or court rulings related to enforcing patents, that
could harm our business and operating results; unexpected trends in
the mobile phone and telecom infrastructure industries; our
inability to raise additional capital to fund our combined
operations and business plan; our inability to maintain the listing
of our securities on a major securities exchange; the potential
lack of market acceptance of our products; potential competition
from other providers and products; our inability to retain key
members of our management team; the future success of Infomedia and
our ability to receive value from its stock; our ability to
continue as a going concern; our liquidity and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC"),
including our annual report on Form 10-K filed with the SEC on
March 16, 2015. Vringo expressly disclaims any obligation to
publicly update any forward-looking statements contained herein,
whether as a result of new information, future events or otherwise,
except as required by law.
Contacts:
Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein@vringoinc.com
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Vringo, Inc. via Globenewswire
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