Single Touch Interactive, Inc. (OTCBB:SITO) announced that it has signed a patent sale and license agreement with Microsoft Corporation (MSFT). The agreement included the sale of six Abbreviated Dialing Code US patents by Microsoft to Single Touch Interactive, with a license back to Microsoft, and a license under pending applications held by Single Touch Interactive in the Abbreviated Dialing Code space. Further, Microsoft has reserved a number of Abbreviated Dialing Codes it may choose to use at some future point in time. "The sale allows Single Touch to broaden our lead in the Abbreviated Dialing Code arena", said Anthony Macaluso, Chairman of Single Touch Interactive (SITO). Abbreviated Dialing Codes are short telephone numbers such as 411 that may also spell a brand name. This easy form of dialing was introduced by Single Touch in 2005 and continues to gain momentum for mobile telephone subscribers. Specific terms of the agreement are confidential.
"Microsoft actively manages its patent portfolio and sells patents that are not core to its business strategy," said David Kaefer, general manager of IP licensing at Microsoft. "We're pleased to sell these Abbreviated Dialing patents to Single Touch Interactive and to enter into a related licensing agreement."
About Single Touch
Single Touch Systems, Inc. (SITO) provides wireless operators, consumer brands, and retailers with innovative mobile marketing and commerce delivery solutions. Single Touch Systems' powerful portfolio of voice, data, SMS and commerce products are delivered via its patented Enhanced Services Platform (ESP). Single Touch Systems' pioneering products are designed to be simple and easy to use and its Mobile Dialing Codes (MDC's) have won several industry awards for innovation and direct response. For more information please visit www.singletouch.net.
Forward Looking Statements:
Under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements including, but not limited to, certain delays beyond the company's control, inability to successfully conclude negotiations currently in progress, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
Contacts:
Single Touch Interactive, Inc.
Larry Dunn, 760-438-0100
ldunn@singletouch.net
