SPECTRUM INFORMATION TECHNOLOGIES, INC. LICENSES ITS CELLULAR DATA TECHNOLOGY TO APEX DATA, INC.
DALLAS, July 21 /PRNewswire/ -- Spectrum Information Technologies, Inc., ("SPECTRUM") Manhasset, N.Y. (NASDAQ: NMS: SPCL), today announced it has signed a license agreement with Apex Data, Inc. a major manufacturer of portable data modems, for use of its patented cellular data communications technology. Under this non-exclusive license, Spectrum's innovative "direct connect" cellular telephone control and data transmission technology will be incorporated into Apex Data's product line. Spectrum will receive an up-front payment and an ongoing royalty on each unit incorporating Spectrum's proprietary technology. Spectrum will also receive payment for cellular "direct connect" cables and driver software for cellular telephone control to be sold by Apex. This is the third of similar such license agreements Spectrum has signed since it actively began efforts to license its portfolio of patented cellular
data communications technology earlier this year. License agreements executed thus far include those with leading portable computer modem manufacturer Megahertz Corporation and AT&T Corporation, covering all its subsidiary business units and affiliate companies.
On July 12, 1993, Apex announced that it was the first company to become an IBM "ThinkPad Proven" vendor, as part of a special program for select third party vendors manufacturing products compatible with IBM ThinkPad notebook computers. Apex plans to distribute its new Spectrum- enhanced cellular products, including versions for the IBM ThinkPad, through the nationwide distributor Merisel Inc. of El Segundo, Calif. beginning later this year. Privately held Apex Data is one of the fastest growing manufacturers of portable data modems, producing a comprehensive line of modems for notebook computers for IBM, Compaq, Toshiba, Zenith and AST. Spectrum Information Technologies, Inc. is headquartered in Manhasset, N.Y., with facilities nationwide. Spectrum develops and licenses wireless data transmission technologies and designs, markets and services mobile communications and computing systems as a systems integrator. -0- 7/21/93 /CONTACT: Kathy L. Bachand, investor relations, 800-FOR-SPCL or 800-233-2119 ext. 308, or Don Kessler, public relations, 516-627-8992, both of Spectrum Information Technologies/ (SPCL)
CO: Spectrum Information Technologies, Inc.; Apex Data, Inc. ST: New York IN: TLS SU: LIC
LG -- NY076 -- 3996 07/21/93 13:31 EDT
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|Date:||Jul 21, 1993|
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