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Spherix Executes Second License Agreement with RPX CorporationNEW YORK, May 24, 2016 /PRNewswire/ -- Spherix Incorporated (NASDAQ: SPEX) – an intellectual property development company committed to the fostering and monetization of intellectual property, today announced a second licensing agreement with RPX Corporation (NASDAQ: RPXC). Under the new agreement, Spherix receives a cash payment and return of all of the Series H preferred stock of Spherix presently held by RPX, representing the entire class of Series H shares outstanding. In exchange, Spherix granted RPX a portfolio license, which RPX can then use to grant sublicenses to its clients. In unrelated matters, Spherix's litigations against L3 Communications Inc., TW Telecommunications Inc., Fairpoint Communications Inc., and Uniden will continue. Anthony Hayes, Chief Executive Officer of Spherix, stated, "We are pleased to have reached this second license agreement with RPX. We continue to seek long-term, mutually beneficial license agreements that represent a positive outcome for our shareholders." About Spherix Spherix is committed to advancing innovation by active participation in all areas of the patent market. Spherix draws on portfolios of pioneering technology patens to partner with and support product innovation. Spherix has acquired over 100 patents from Rockstar Consortium Inc., and several hundred patents issued to Harris Corporation, covering a variety of methods and components involved in switching, routing, networking, optical and telephone technologies, as well as in the wireless communications and telecommunication sectors. Forward Looking Statements Contact: Spherix Contact: Logo - http://photos.prnewswire.com/prnh/20131104/PH08853LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/spherix-executes-second-license-agreement-with-rpx-corporation-300273608.html SOURCE Spherix Incorporated |