Intellectual Ventures Signs Shazam as Latest Licensing and IP-for-Defense™ Customer

BELLEVUE, Wash., March 31, 2015 /PRNewswire/ -- Intellectual Ventures (IV) today announced a long-term licensing agreement with Shazam, creator of one of the world's most popular mobile apps. The agreement provides Shazam with a license to IV's patent portfolio of more than 40,000 intellectual property (IP) assets and access to IV's IP-for-Defense™ program, a strategic defense tool for companies.  

"Few markets have evolved as rapidly as the digital media market and Shazam has continually been at the forefront of this industry," said Cory Van Arsdale, senior vice president of Global Licensing at Intellectual Ventures. "Together, we'll work to ensure Shazam has the ability to safeguard its industry leading position."

Shazam has evolved from a SMS-based music identification provider to one that connects more than 100 million monthly mobile active users around the world with artists, TV shows, ads, cinema, radio and retail environments through its pioneering audio recognition technology. Shazam is one of the most downloaded apps worldwide and is growing by more than 1 million net new users each week.

"As an organization, Shazam is always seeking to provide users with the most compelling and engaging experience possible," said Bridget Kerle, General Counsel at Shazam. "Our agreement with IV, and access to their patent portfolio will add new resources for Shazam."

IV provides a variety of solutions for companies looking to develop and enhance their intellectual property (IP) strategies and counts many of the world's leading technology companies as customers and partners. Companies of all sizes rely on IV to meet their current business needs and to provide guidance on developing and acquiring invention rights relevant to their product roadmaps. In addition to traditional IP licensing deals, companies can work with IV's in-house inventors and its network of more than 4,000 inventors around the world to solve near-term technical issues and invent the technologies that will differentiate their next-generation products from the competition.

About Intellectual Ventures

Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world.

About Shazam

Shazam is one of the world's most popular mobile apps that magically connects people to the world around them. Shazam pioneered audio recognition technology that helps people identify music and has grown into an app that effortlessly connects people with artists, TV shows, ads, cinema, radio and retail environments. Shazam has been downloaded over 500 million times and has over 100 million monthly mobile active users.

For further information about Shazam Entertainment visit www.shazam.com and @Shazam.

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SOURCE Intellectual Ventures

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