Digitude Files Multimedia Streaming and Downloading Patent Litigation
Acquisition Efforts Continue, Portfolio Now Exceeds 600 Patents
ALEXANDRIA, Va.--(BUSINESS WIRE)-- Digitude Innovations LLC, through its wholly owned subsidiary Preservation Technologies LLC, today announced the filing of two patent infringement cases in the U.S. District Court for the Central District of California.
The actions relate to ten patented inventions that enable the accessing, searching and cataloging of multimedia data. The patents were acquired by Preservation Technologies via an exclusive license from the USC Shoah Foundation Institute for Visual History and Education. The patented technology was developed to record and archive testimonies of survivors and other witnesses of the Holocaust through nearly 52,000 videotaped interviews between 1994 and 1999.
Digitude also announced further patent acquisitions have now brought its patent portfolio to above 600 U.S. patents. The newly acquired portfolios include patents regarding PC and consumer mobile devices, computer peripherals and communications services.
“This marks the beginning of Digitude’s monetization activity, but we expect to continue to be active buyers of additional assets,” said Robert Kramer, Chairman of Digitude Innovations and Managing Partner of Altitude Capital Partners. “We are now 14 months into our acquisition campaign, and I expect we will continue our acquisition activity aggressively through the end of 2012.”
Late last year, Digitude announced its innovative patent monetization model in which the company acquires, aggregates, and licenses patents through strategic partnerships. This Digitude consortium model enables sellers to combine their IP assets with other sellers, diversify their IP holdings, and gain access to a critical mass of IP that is necessary for a successful licensing program. This approach reduces risk for Digitude partners while increasing their expected returns.
Digitude Innovations is an Altitude Capital Partner’s portfolio company. As part of a highly targeted acquisition program, Digitude has aggregated more than 600 patents containing technology indispensible to a wide variety of consumer electronics and communication products and services. Digitude’s mission is to (i) continue to build its patent portfolio through transactions with inventors, operating companies and owners of important IP and (ii) license its high value portfolio to industry leaders. www.digitudeinnovations.com
Altitude Capital Partners LP is a New York-based private equity fund with a distinguished track record for investing in intellectual property assets. Its primary focus is providing capital to all areas of Intellectual Property. Altitude invests in patents, trademarks, copyrights, royalty streams and trade secrets. These investments create working capital for growth, funding for future acquisitions, financing for IP monetization programs and for distributions to intellectual property owners, inventors, corporations and shareholders. www.altitudecp.com
Wendy Chou, 718-812-6707
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