Inventergy Global Inc. (INVT), the patent monetization company run by CEO Joseph Beyers, said it has reached a settlement of an enforcement action against Sonus Networks Inc.
Campbell, California-based Inventergy said Sonus agreed to make an undisclosed one-time payment to Inventergy in exchange for a license to all Inventergy IMS and VoIP patents. The patent license agreement provides Sonus with a license to two of Inventergy's portfolios purchased from Nokia and Huawei. These portfolios include 56 patent families comprised of over 250 patents and patent applications, including standards-essential patents pertaining to IMS and VoIP technology.
The parties agreed to dismiss with prejudice each of their lawsuits and counterclaims against the other, which had been pending in U.S. District Court in San Francisco.
Inventergy, which received $11 million in debt financing from Fortress Investment Group, previously tried to use its relationship with Fortress as a cudgel to coerce Sonus Networks to agree to a licensing agreement worth from $24 million to $97 million.
Beyers said the two parties agreed not to disclosed the amount of the one-time payment, which he said was "consistent with the rate we have established in other license agreements for these patent assets." Inventergy previously disclosed a $2 million settlement last year with an undisclosed licensee, a $4 million patent sale and an undisclosed licensing settlement with Genband US.
Beyers added that in Inventergy continues to negotiate larger transactions involving the sales of portions of its patent assets. "We remain focused on enhancing stockholder value through a range of monetization efforts."
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