NeoMedia grants Microsoft access to extensive patent portfolio
NeoMedia granted Microsoft (NASDAQ:MSFT) global non-exclusive rights to its patent portfolio, which includes more than 74 patents pertaining to mobile barcodes management.
NeoMedia's stock shot up immediately after the deal was announced, with Aim High Profits reporting that over $1.6 million was traded within seconds of the announcement. NeoMedia was not immediately available to comment on the value of the deal.
"As mobile barcodes become a key fixture in the mobile marketing mix, it is important for stakeholders across the industry to ensure the solutions they employ leverage the relevant intellectual property in a responsible manner," said NeoMedia CEO Laura Marriott in a prepared statement.
It's unclear how Microsoft plans to use NeoMedia's IP. Microsoft currently operates its own 2D mobile barcodes, Microsoft Tag, and the addition of NeoMedia's patent portfolio could enable them to expand the offerings surrounding Microsoft Tag. Its Tag app, which is used to read Microsoft's mobile barcodes, is available across Google's (NASDAQ:GOOG) Android, Apple's (NASDAQ:AAPL) iOS, Research in Motion's (NASDAQ:RIMM) BlackBerry and its own Windows Phone 7 platform.
"The agreement between NeoMedia and Microsoft underscores the importance of intellectual property to our growing industry," Marriott said.
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