TeleCommunication Systems, Inc. (NASDAQ: TSYS) and IP Cube Partners Co. Ltd of South Korea, said that TCS has sold two of its US patents to IP Cube Partners for a multi-seven-figure payment.
The two patents are: “Single Gesture Map Navigation Graphical User Interface for a Personal Digital Assistant” (US Patent No. 7,142,205) and “Single Gesture Map Navigation Graphical User Interface for a Thin Client” (US Patent No. 7,439,969). The patents involve the use of a stylus for navigating a map application on a hand-held device, such as a personal digital assistant or smartphone.
“IP Cube Partners is one of South Korea’s leading intellectual property companies, and the sale of these two patents represents a next step in our program of monetising the company’s growing IP (intellectual property) portfolio,” said Maurice B. Tose, TCS chairman, CEO and president.
With more than 15 years of investing in innovations for public safety, mobile location, messaging and the wireless communication fields, TCS has created an impressive intellectual property portfolio. In calendar year 2012, TCS was issued 52 US patents, which brings the total number of patents issued worldwide to date to 271; TCS also filed 86 US patents, with more than 380 patent applications pending worldwide.
TeleCommunication Systems is a world leader in highly reliable and secure mobile communication technology. The company’s website is at www.telecomsys.com.