Microsoft and Velocity Micro, Inc., Sign Patent Agreement Covering Android-Based Devices
REDMOND, Wash., June 29, 2011 /PRNewswire/ — Microsoft Corp. and Velocity Micro, Inc., have signed a patent agreement that provides broad coverage under Microsoft’s patent portfolio for Velocity Micro, Inc., Android-based devices, including Velocity Micro, Inc.’s Cruz(TM) Tablet. Although the contents of the agreement have not been disclosed, the parties indicate that Microsoft will receive royalties from Velocity Micro, Inc., under the agreement.
“We are pleased to have reached this agreement with Velocity Micro, Inc., to address and secure IP rights for its Android-based Cruz(TM) tablet devices,” said Horacio Gutierrez, corporate vice president and deputy general counsel of Intellectual Property and Licensing at Microsoft.
Randy Copeland, CEO of Velocity Micro, Inc., said, “By entering into this agreement with Microsoft, Velocity Micro, Inc., will be able to better meet the needs of our customers with the introduction of exciting new Cruz(TM) tablets having increased performance and functionality.”
Microsoft’s Commitment to Licensing Intellectual Property
The patent agreement is another example of the important role intellectual property (IP) plays in ensuring a healthy and vibrant IT ecosystem. Since Microsoft launched its IP licensing program in December 2003, the company has entered into more than 700 licensing agreements and continues to develop programs that make it possible for customers, partners and competitors to access its IP portfolio. The program was developed to open access to Microsoft’s significant R&D investments and its growing, broad patent and IP portfolio.
More information about Microsoft’s licensing programs is available at http://www.microsoft.com/iplicensing.
Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
SOURCE Microsoft Corp.