Inventergy Signs Letter of Intent with Approach Me
CAMPBELL, CA--(Marketwired - Feb 13, 2017) - Inventergy Global, Inc. (NASDAQ: INVT) ("Inventergy"), an intellectual property monetization company, announced today that Inventergy Innovations, LLC, Inventergy's subsidiary that focuses on technology licensing, has entered into a letter of intent with Approach Me, Inc., a company that develops innovative location-based mobile applications. As part of the engagement, Inventergy Innovations will obtain commercialization rights to Approach Me's technology.
Joe Beyers, CEO of Inventergy, stated, "Location-based mobile applications and services are high growth markets and we are excited to partner with Approach Me to monetize its unique innovations. Approach Me's technology adds new dimensionality and security to enable mobile app users' enhanced location-based capabilities in solving the deficiencies of conventional map-based navigation systems."
Mr. Beyer's continued, "In a short time, Inventergy Innovations has been able to secure monetization rights to various unique and powerful disruptive technologies, which we believe will allow us to provide additional revenue opportunities for our partners and our shareholders. We anticipate the definitive agreement for the partnership to be completed in the coming weeks which will make this the seventh partnership agreement by our Inventergy Innovations subsidiary."
Research and Markets, a market research firm, estimates the annual global market for location-based services (LBS) to reach $34.8 billion by 2020, growing at over 22 percent annually.
"We are pleased with our decision to partner with Inventergy Innovations to maximize our growth potential in our unique location-based applications," said Tony Ghanma, CEO of Approach Me, Inc. "Maps or navigation systems will only get you to a physical address. Our solutions utilize our patent-pending Self-guiding Radar™ and 3D-Grid Technology to guide you the rest of the way. Our apps include ApproachMe®, a private and fun to way to find family and friends in crowds, such as in shopping malls, festivals, concerts and sporting events. The PointX® app is the only photo location-based app that lets you save, find and share your location by simply snapping a photo of it, even if there is no map or address available. Lighthouse-X® empowers businesses to broadcast on-the-fly, fixed locations from anywhere in the world, to any place, enabling customers to quickly and easily get there, without having to rely on maps. And our TrackerX® division provides GPS tracking devices that are easy to setup and require no contract or monthly fees."
About Inventergy Global, Inc.
Inventergy Global, Inc. is a Silicon Valley-based intellectual property company dedicated to identifying, acquiring and licensing patented technologies of market-significant technology leaders. Led by IP industry pioneer and veteran Joe Beyers, the Company leverages decades of corporate experience, market and technology expertise, and industry connections to assist Fortune 500 and other technology companies in leveraging the value of their innovations to achieve greater returns. For more information about Inventergy, visit www.inventergy.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements, estimates, forecasts and projections with respect to future performance and events, which constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Those statements include statements regarding the intent and belief or current expectations of the Company and its affiliates and subsidiaries and their respective management teams. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "will," "should," "seek" and similar expressions and include any projections or estimates set forth herein. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, that actual results may differ materially from those projected in the forward-looking statements.