UPDATE: Microsoft, Hoeft & Wessel AG Sign Patent Agreement Related to Devices Running on Android
Microsoft Corp. (NASDASQ: MSFT) and Hoeft & Wessel AG have signed a patent licensing agreement that provides broad coverage under Microsoft's patent portfolio for Hoeft & Wessel devices running the Android platform. Hoeft & Wessel manufactures handheld devices and terminals for the public transportation, logistics and retail industries in Europe. While the contents of the agreement have not been disclosed, the parties indicate that Microsoft will receive royalties from Hoeft & Wessel.
"This agreement with Hoeft & Wessel is another example of how industry leaders address intellectual property," said Horacio Gutierrez, corporate vice president and deputy general counsel of the Intellectual Property Group at Microsoft. "We are proud of the continued success of our licensing program in resolving IP issues surrounding the Android platform in a variety of industries."
The Hoeft & Wessel Group is a leading IT and engineering technology Group for ticketing, parking and mobile solutions in Germany and Great Britain. Established in 1978 by the two entrepreneurs who gave the company its name and listed on the stock market since 1998, the enterprise has developed into a group of companies with sales revenues of approx. EUR 80 million. Its main locations are Hannover (Germany), and Swindon (UK), to the west of London.
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 1100 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.