BOSTON TECHNOLOGY ANNOUNCES LICENSING AGREEMENT WITH THEIS RESEARCH, INC.
WAKEFIELD, Mass., Jan. 4 /PRNewswire/ -- Boston Technology, Inc. (NASDAQ: BSTN) today announced that it has entered into a license agreement with Theis Research, Inc. for a worldwide license to a number of Theis Patents relating to voice processing. The license agreement provides for the license to be applicable to Boston Technology and its customers. As part of the license agreement, Theis has also cross- licensed Boston Technology's main patent related to its platform architecture. In conjunction with the license agreement, all litigation between the parties has been withdrawn. "We are very pleased that we have reached an agreement with Theis Research," commented Dr. John C. W. Taylor, president and chief executive officer of Boston Technology. "We believe that this agreement is in the best interest of all parties, and that our customers will benefit from Boston Technology's access to the Theis voice processing patents and the related technology." In licensing the Theis Patents, Boston Technology will pay a one- time license fee, on an installment basis, without paying any future running royalties. These arrangements are not anticipated to have any material adverse impact on Boston Technology's current or future financial results. In connection with the license agreement, the parties have jointly dismissed the litigation in California over the various Theis Patents, and Theis will notify the Federal District Court in Virginia, that all the claims against the Boston Technology equipment involved in the litigation that Theis filed against the Bell Atlantic Companies, are withdrawn. Based in Wakefield, Mass., Boston Technology develops, manufactures, markets and supports systems that provide enhanced voice and information processing services for telephone companies, wireless telephone service providers, interexchange carriers, other service providers, and large organizations worldwide. -0- 1/4/94 R /CONTACT: Katherine Raphaelson, director of investor and public relations, ext. 3504; or Kim Carnesale, investor and public relations analyst, ext. 3550, both of Boston Technology, 617-246-9000/ (BSTN)
CO: Boston Technology, Inc. ST: Massachusetts IN: TLS SU: LIC
OP -- NE006R -- 8936 01/04/94 13:05 EST
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|Date:||Jan 4, 1994|
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