Business Services Industry
Concurrent and C-COR Enter into Patent License Agreement
Business Wire, Oct 8, 2007
ATLANTA -- Concurrent Computer Corporation (NASDAQ: CCUR), a worldwide leader of on-demand technology and real-time computing technology, today announced the finalization of a patent license agreement with C-COR (NASDAQ: CCBL). The agreement allows any acquirer of Concurrent or its video streaming business and a subsequent acquirer to be covered under the patent portfolio previously licensed to Concurrent by Alcatel, so long as the acquirer has not been identified as an Alcatel license target.
"We are pleased to have this agreement completed," stated Gary Trimm, president and CEO of Concurrent. "This news should reassure the investment community and our customers that any Concurrent products sold by us or an acquiring company will be free from any and all patent claims based on the licensed patents."
In addition, a separate agreement was entered into between Thirdspace Living Ltd (now in liquidation) and C-COR whereby Thirdspace has agreed to drop any claims to litigation proceeds recovered by C-COR in its patent suit against SeaChange. C-COR paid Thirdspace $3.2 million for the release and Thirdspace immediately paid that amount to Concurrent to pay off secured debts owed to Concurrent. Concurrent then paid C-COR $1.7 million for the patent license.
"We are happy to have an end to the transferability issues related to the licensed patents," continued Mr. Trimm. "We resolved the patent issue and brought in $1.5 million to Concurrent." Mr. Trimm also added that Concurrent and C-COR are the only known VOD vendors with coverage under this portfolio.
The portfolio licensed to Concurrent by C-COR includes two U.S.-issued patents and all divisionals, continuations and foreign counterparts of those patents. The two U.S. patents are Patent Number 5,805,804 and Patent Number 5,623,595. U.S. Patent No. 5,805,804 has been the subject of significant litigation, including the dispute between SeaChange and C-COR.
The licensed patent portfolio has had a complex history. Oracle developed the original portfolio, then subsequently sold it to nCube and Thirdspace. Concurrent obtained a license to the portfolio as part of their 2002 investment in Thirdspace. The license was reissued by Alcatel when it purchased the assets of Thirdspace in May 2003. This license from C-COR resolves certain issues regarding the transferability of the licensed patents.
About Concurrent
Concurrent (NASDAQ: CCUR) is a leading provider of high-performance, real-time Linux software and solutions for commercial and government markets. For 40 years Concurrent's best-of-breed products have enabled a range of time-critical solutions including: modeling and simulation, high speed data acquisition, visual imaging, low latency transaction processing and on-demand television. Concurrent's on-demand television applications are utilized by major service providers in the cable and IPTV industries to deliver video-on-demand (VOD) and, through subsidiary company Everstream, provide performance measurement systems for interactive media. Concurrent is a global company with regional offices in North America, Europe, Asia and Australia, and has products actively deployed in more than 26 countries. Concurrent's products and services are recognized for being uniquely flexible, comprehensive, robust and reliable. For more information, please visit www.ccur.com.
Certain statements made or incorporated by reference in this release may constitute "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and development and our future performance, as well as our expectations, beliefs, plans, estimates, or projections relating to the future, are forward-looking statements within the meaning of these laws. These forward looking statements include, among others, statements regarding our products, release schedules, and product development. All forward-looking statements are subject to certain risks and uncertainties that could cause actual events to differ materially from those projected. Such risks and uncertainties include our ability to meet customer schedules and demands and deployment and integration goals.
Important risk factors are discussed in our Form 10-K filed with the Securities and Exchange Commission on Sept. 1, 2006 and may be discussed in subsequent filings with the SEC. The risk factors discussed in such Form 10-K under the heading "Risk Factors" are specifically incorporated by reference in this press release. Our forward-looking statements are based on current expectations and speak only as of the date of such statements. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information, or otherwise.
Concurrent Computer Corporation its logo and Everstream and its logo are registered trademarks of Concurrent Computer Corporation. All other Concurrent product names are trademarks of Concurrent while all other product names are trademarks or registered trademarks of their respective owners. Linux[R] is used pursuant to a sublicense from the Linux Mark Institute.
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