Soryn IP Group Announces Successful Fintech Patent Portfolio License Agreement For Financial Industry Giant
NEW YORK, Oct. 17, 2017 /PRNewswire/ — Soryn IP Group, LLC (“Soryn IP Group”), a patent advisory and litigation finance firm, announced today the close of a financial technology (“fintech”) patent portfolio licensing deal for a client that is one of the largest institutions in the financial industry. The fintech portfolio was licensed to an operating company in the fintech space under an exclusive licensing arrangement. Financial terms and the identities of the parties have not been disclosed due to confidentiality restrictions. This deal adds to the multitude of closed patent related financings, portfolio sales, and licensing agreements that Soryn has announced within the past 12 months.
“We are so gratified to announce the close of this transaction, on behalf of a household name in the financial industry,” emphasized Michael Gulliford, the Founder and a Managing Principal of Soryn IP Group. “First, the deal continues to demonstrate the pedigree of companies that entrust their patent monetization and deal efforts to Soryn. Second, the deal exemplifies how Soryn continues to meet its clients’ business objectives in getting deals done. Not only was the exclusive licensee of the portfolio an operating company, which was very important for management, it is also likely to become a great strategic partner for our client for years to come. So it is really a win-win for all sides.”
“Closing deals in the patent world remains an uphill battle, but we’re proud to be entering Q4 with great momentum,” notes Gulliford. “We expect this deal to be followed by the announcement of additional closed deals, and will continue to work tirelessly on behalf of innovators looking for ways to maximize the value of their intellectual property in a manner that also meets strategic business objectives.”