NEOMEDIA AND SCANBUY REACH SETTLEMENT AND LICENSE AGREEMENT
EXHIBIT 99.1
NEOMEDIA
AND SCANBUY REACH SETTLEMENT
U.S.
Mobile Barcode Market Aligned for Growth
ATLANTA/NEW
YORK, October 20, 2009 – Today NeoMedia Technologies, Inc. (OTC BB: NEOM), and
Scanbuy, Inc., leaders in mobile barcode technology, announced they have settled
all pending litigation between the companies and have granted non-exclusive
patent licenses to each other.
NeoMedia
and Scanbuy have agreed to terminate all pending litigation brought by NeoMedia
against Scanbuy in 2004, and by Scanbuy and Xxxxxxxx Feature Recognition, LLC
(“MFR”) against NeoMedia in 2008.
In
addition, NeoMedia has granted Scanbuy a royalty bearing, non-exclusive license
to a portion of its patent portfolio in the U.S. In turn, Scanbuy has granted
NeoMedia a fully paid, irrevocable, non-exclusive license of Scanbuy patents and
a fully paid, non-exclusive sublicense to all of the patents licensed by MFR to
Scanbuy within the U.S.
This
agreement will enable consumer brands, advertising agencies and mobile operators
to confidently engage with either company to implement mobile barcode solutions
in the U.S. The technology has enormous potential to become a viable and widely
adopted communication channel.
“The
agreement between NeoMedia and Scanbuy removes the final roadblock to rapid
commercialization of mobile barcodes in the US,” commented Xxxx XxXxxxxx, Chief
Executive Officer of NeoMedia. “We are literally dropping the green flag for
brands, retailers and mobile operators to join the race towards mobile barcodes
becoming a fixture in every consumer’s daily routine.”
”We are
pleased that Scanbuy has reached a fair agreement with NeoMedia, and look
forward to working with our partners to build a vibrant business in the United
States,” said Xxxxxxxx Xxxxxxxx, Chief Executive Officer of
Scanbuy. “Both companies have invested a great deal in our
intellectual property and we will continue to bring these solutions to leading
marketers, wireless operators, and handset manufacturers around the
world.”
This
release contains forward-looking statements within the meaning of section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. With the exception of historical information contained herein, the matters
discussed in this release involve risk and uncertainties. Actual results could
differ materially from those expressed in any forward-looking
statement.
- 1
-
About NeoMedia
Technologies:
NeoMedia
Technologies, Inc. (OTCBB: NEOM) is a global leader in mobile barcode scanning
solutions. Our technology allows mobile devices with cameras to read 1D and 2D
barcodes and provide “one click” access to mobile content. Combining this
technology with advanced analytics and reporting capabilities revolutionizes the
way advertisers market to mobile consumers.
NeoMedia
provides the infrastructure to make 2D camera barcode scanning and its
associated commerce easy, universal, and reliable – worldwide.
The
company’s mobile phone technology, NeoReader, reads and transmits data from 1D
and 2D barcodes to its intended destination. Our Code Management and Code
Clearinghouse platforms create, connect, record, and transmit the transactions
embedded in the 1D and 2D barcodes, like web-URLs, text messages (SMS), and
telephone calls, ubiquitously and reliably.
NeoMedia
Media Relations Contacts:
U.S.:
Xxxxxxxx
Xxxxxxxx
x0 (000)
000-0000
xxxxxxxxx@xxxxxxxx-xxxxxxx.xxx
Europe:
Xxxxxx
Xxxxxxx, xxxxxx.xxxxxxx@xxxxxxxxxx.xxx
Xxxxxxxxx
Xxxxxxxxxxx, xxxxxxxxx.xxxxxxxxxxx@xxxxxxxxxx.xxx
x00 (0) 00 0000 0000
About
Scanbuy, Inc.
Scanbuy
is a leading global provider of mobile barcode solutions that use the camera
phone as the link between the physical world and the digital world. The ScanLife
solution consists of a multi-barcode reader application and interoperable Code
Management Platform. The technology has been successfully deployed
and supported by leading mobile providers and handset manufacturers in the
United States, Mexico, Chile, Spain, Italy and Denmark. Media
companies and marketers use the solution to create and manage measurable 2D
barcode campaigns, extending brand engagement onto mobile devices.
Scanbuy has the largest and oldest
patent portfolio of any company in the industry, with over 30 patents granted
covering the entire solution. The company's investors include
Xxxxxxxxx Venture Partners, Masthead Venture Partners and Xxxxxx
Ventures.
For more
information on Scanbuy, please visit HUwww.scanbuy.comUH or HUwww.scanlife.comUH.
Media
Contact:
XXxxxxx@xxxxxxx.xxxXX
- 2
-