LONDON, UK / ACCESSWIRE / November 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Network-1 Technologies, Inc. (NYSE: NTIP) ("Network-1"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=NTIP. The Company announced on November 03, 2017, that it has agreed to settle the patent litigation against Juniper Networks, Inc. (NYSE: JNPR) ("Juniper"). Network-1 had filed the patent litigation against 16 data networking equipment manufacturers in September 2011 with the US District Court for the Eastern District of Texas, Tyler Division, for infringement of Network-1's Remote Power Patent (United States Patent No. 6,218,930). Juniper was one of the sixteen Companies against whom Network-1 had originally filed the case. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Terms of Settlement
As per the terms of the settlement, Juniper has agreed to pay $13.25 million and in return receive fully-paid license for Network-1's Remote Power Patent for its full life term, i.e. till March 2020. The settlement will apply to the sale of Power over Ethernet (PoE) products, including those PoE products which are in compliance with the Institute of Electrical and Electronic Engineers (IEEE) 802.3af and 802.3at Standards.
The Patent Litigation
Network-1 had filed a patent litigation case in September 2011 against sixteen data networking equipment manufacturers including their affiliates for infringement of its Remote Power Patent. The matter is still pending with the US District Court of Eastern District of Texas, Tyler Division. Out of the initial 16 Companies, 15 companies have reached a settlement with Network-1 and the Company has signed licence agreements with these 15 companies. Hewlett-Packard Company (HP) is the single remaining defendant against whom the lawsuit is still pending. Network-1 is seeking monetary damages based upon reasonable royalties. The trial against HP is due to start on November 06, 2017.
In September 2017, Network-1 settled with Avaya, Inc. and in August 2017 it settled with Axis Communications, Inc., the two other defendants of the same patent litigation case.
About Network-1's Patent
The United States Patent and Trademark Office had granted the Remote Power Patent to Network-1 in April 2001 and the said patent expires on March 11, 2020. The Remote Power Patent is with regards to the delivery of power over Ethernet cables to remotely power network connected devices like wireless switches, wireless access points, VoIP telephones and network cameras, etc. The IEEE approved the 802.3af standard in June 2003, which helped the fast adoption of PoE. Later, IEEE approved the 802.3at standard, i.e. Power over Ethernet Plus (PoE Plus) Standard. This allowed the maximum power delivery to network devices of up to 40-60 watts compared to 15 watts under the 802.3af Standard.
For the period between May 2007 to June 30, 2017, Network-1 has earned over $116 million as licensing revenue for its Remote Power Patent
Apart from the above, Network-1 has twenty-seven (27) license agreements for its Remote Power Patent. Some of the leading Companies with whom the Company has signed the license agreement include Cisco Systems, Inc., Netgear Inc., Alcatel-Lucent USA, Sony Corporation, Shoretel Inc., Microsemi Corporation, Motorola Solutions, Inc., NEC Corporation, Samsung Electronics Co., Ltd, and many other data networking firms.
About Network-1 Technologies, Inc.
New York based Network-1 is engaged in the development, licensing, and protection of its intellectual property and proprietary technologies. It acquires and licenses intellectual property to maximize its value for the benefit of its investors and inventors. The Company works with individual inventors, corporate, and academic patent owners so that it can fully develop and license their intellectual property assets for getting maximum value for their inventions and technologies. At present, the Company owns thirty-six patents in various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content.
Last Close Stock Review
On Friday, November 03, 2017, the stock closed the trading session at $4.25, climbing 2.41% from its previous closing price of $4.15. A total volume of 116.20 thousand shares have exchanged hands, which was higher than the 3-month average volume of 61.01 thousand shares. Network-1 Technologies' stock price skyrocketed 3.66% in the last one month, 1.19% in the past three months, and 57.41% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 25.00%. The stock is trading at a PE ratio of 7.24 and has a dividend yield of 2.35%. The stock currently has a market cap of $100.30 million.
At the close of trading session on Friday, November 03, 2017, Juniper Networks' stock price slightly rose 0.61% to end the day at $24.55. A total volume of 4.56 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 14.53 and have a dividend yield of 1.63%. At Friday's closing price, the stock's net capitalization stands at $9.28 billion.
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