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Aware Announces Closing Of Sale Of Selected Patents
Sep 21, 2012 (04:09 PM EDT)
BEDFORD, Mass., Sept. 21, 2012 /PRNewswire/ -- Aware, Inc. (NASDAQ: AWRE) announced today that it has completed the sale (as previously announced on August 23, 2012) of selected patents and patent applications to TQ Delta, LLC for US $16,000,000.00. The patents and patent applications relate to DSL technology. The sale is part of our patent management operation's efforts to sell and/or license portions of our patent portfolio. Global IP Law Group, LLC represented Aware in this transaction.
Safe Harbor Warning
General factors include, but are not limited to: our quarterly results are unpredictable and may fluctuate significantly; our business is subject to rapid technological change; we face intense competition from a wide range of competitors; our intellectual property is subject to limited protection; our business may be affected by our use of open source software; our business may be affected by government regulations; adverse economic conditions; and our ability to obtain or enforce patents could be affected by new laws, regulations or rules. DSL service assurance factors include, but are not limited to: our DSL service assurance product line depends upon a limited number of customers; our DSL service assurance software products face intense competition; and our DSL service assurance hardware and software products could have quality problems; we depend on a single source contract manufacturer for the manufacture of our DSL hardware products; and we are dependent on single source suppliers for components in our DSL hardware products. Biometric factors include, but are not limited to: market acceptance of our biometric technologies and products; changes in contracting practices of government or law enforcement agencies; the failure of the biometrics market to experience continued growth; announcements or introductions of new technologies or products by our competitors; failures or problems in our biometric software products; delays in the adoption of new industry biometric standards; growth of proprietary biometric systems which do not conform to industry standards; our ability to sell services contracts in a manner that is consistent with our business model; our ability to deliver services contract milestones; and our dependence on third party contractors and consultants to deliver certain services contract milestones. Further, there can be no assurance as to the timing of a possible transaction with respect to our patent portfolio or whether such a transaction will be completed.
We refer you to the documents Aware files from time to time with the Securities and Exchange Commission, specifically the section titled Risk Factors in our annual report on Form 10-K for the fiscal year ended December 31, 2011 and other reports and filings made with the Securities and Exchange Commission.
Aware is a trademark or registered trademark of Aware, Inc.
AWARE, INC. | 40 MIDDLESEX TURNPIKE | BEDFORD, MA USA 01730-1432
SOURCE Aware, Inc.