WordLogic, an innovator of patented predictive intelligence technology solutions for mobiles, tablets and desktops, has sold the exclusive rights of its legal enterprise solutions to a Virginia-based private equity group, which has placed a non-refundable financial commitment to purchase the licensing rights.
Per the agreement, the equity group will effect a one-time payment of $1 million in exchange for exclusive rights to license WordLogic technologies in North America. In addition, the group will pay to WordLogic 10% royalty on all sales as well as 15% annual software maintenance fees on all sales.
WordLogic’s obligation will be to provide a commercial product utilizing its innovative iKnowU® and REACH™ technology to provide small- to medium-sized law firms a “better user-experience” in creating and researching legal documents.
Renowned for its award-wining predictive iKnowU® keyboard enriched with the innovative REACH™ technology, WordLogic has amasses an intellectual property portfolio that includes U.S. and European patents and numerous pending patent applications. The company’s advanced predictive platform software is designed to accelerate information discovery and text input on a wide variety of devices including smartphones, PCs, cell phones, Smart TV, media players, automotive navigational systems, infotainment and game consoles.
REACH™ technology enables users to remain in the core applications of their mobile phone while searching for other data. This means users no longer have to exit their core app to navigate through numerous other applications to obtain information such as directions, restaurant listings, ratings and reviews, travel information and other contextual data from Google or other mobile and content sites.
The company has produced a descriptive video of the patent-pending REACH™ advertising search engine and WordLogic technologies on its website at www.wordlogic.com
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