WordLogic, an innovator of patented
predictive intelligence technology solutions for mobiles, tablets and desktops,
has sold the exclusive rights of its legal enterprise solutions to a
Virginia-based private equity group, which has placed a non-refundable
financial commitment to purchase the licensing rights.
Per the agreement, the equity group will
effect a one-time payment of $1 million in exchange for exclusive rights to
license WordLogic technologies in North America. In addition, the group will
pay to WordLogic 10% royalty on all sales as well as 15% annual software
maintenance fees on all sales.
WordLogic’s obligation will be to provide a
commercial product utilizing its innovative iKnowU® and REACH™ technology to
provide small- to medium-sized law firms a “better user-experience” in creating
and researching legal documents.
Renowned for its award-wining predictive
iKnowU® keyboard enriched with the innovative REACH™ technology, WordLogic has
amasses an intellectual property portfolio that includes U.S. and European
patents and numerous pending patent applications. The company’s advanced
predictive platform software is designed to accelerate information discovery
and text input on a wide variety of devices including smartphones, PCs, cell
phones, Smart TV, media players, automotive navigational systems, infotainment
and game consoles.
REACH™ technology enables users to remain in
the core applications of their mobile phone while searching for other data.
This means users no longer have to exit their core app to navigate through
numerous other applications to obtain information such as directions,
restaurant listings, ratings and reviews, travel information and other
contextual data from Google or other mobile and content sites.
The company has produced a descriptive video
of the patent-pending REACH™ advertising search engine and WordLogic
technologies on its website at www.wordlogic.com
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