Soryn IP Group LLC, a New York-based patent advisory and litigation finance firm, announced the close of a financial technology (fintech) patent portfolio licensing deal “for a client that is one of the largest institutions in the financial industry.”
Soryn said the portfolio was licensed to an operating company in the fintech space under an exclusive licensing arrangement.
Financial terms and identities of the parties have not been disclosed “due to confidentiality restrictions.”
“We are so gratified to announce the close of this transaction, on behalf of a household name in the financial industry … ” said Michael Gulliford, founder and a managing principal of Soryn IP Group.
“Closing deals in the patent world remains an uphill battle, but we’re proud to be entering Q4 with great momentum.
“We expect this deal to be followed by the announcement of additional closed deals, and will continue to work tirelessly on behalf of innovators looking for ways to maximize the value of their intellectual property in a manner that also meets strategic business objectives.”