Network-1 Technologies acquires patent portfolio

IP licensing company Network-1 Technologies, Inc. announced the acquisition of a patent portfolio relating to the Internet of Things (IoT), Machine-to-Machine industries and next generation consumer mobile technologies.

Network-1 said the patent portfolio was acquired from M2M and IoT Technologies, LLC, an intellectual property development company in Evanston, Illinois.

“The acquired portfolio includes 12 issued United States patents relating to, among other things, the enabling technology for authenticating and using embedded SIM cards in next generation IoT, Machine-to-Machine, and other mobile devices, including smartphones, tablets and computers as well as automobiles and drones,” said Network-1.

“It is estimated that the annual sales of devices making use of embedded SIM technology will exceed 500 million units by 2024 as they are used in an extremely wide assortment of connected devices.

“In addition to the granted United States patents, the portfolio also includes seven pending United States patent applications and nine pending international patent applications.

“The patents are based on a series of patent applications filed as early as 2013 and have patent terms extending into 2033.

“Network-1 anticipates continuing to prosecute the pending patent applications and plans on filing several new patent applications with the United States Patent and Trademark Office based on the inventions contemplated by the original patent filings.”