January 12, 2017 -
Microlatch has a patent portfolio of 26 registered patents globally with one single patent — Remote Entry System — being valued at up to US$313 million.
The patents cover secure access solutions for mobile computing devices, with a specific focus on wireless platforms within the access control security markets, smart home and encrypted communications.
The patented technology relates to biometrics being aligned with RF (radio frequency), NFC (near field communication) and Bluetooth payment technology for secure access to mobile computing devices.
Patent attorneys have reviewed the patent portfolio and identified 35 global entities — including Apple Inc., Huawei, Lenovo Group Limited, and Zwipe — who are marketing products and services that are related to one or more of the patents and are potential infringers who can best be described as potential licensees.
Additionally, these entities are viewing mobile payment systems as the next major global market growth area and Microlatch has several patents that would ensure a stronger patent protection position.
By acquiring Microlatch, Charter Pacific will benefit from potential future revenues through license agreements or on-selling the patents.
Charter Pacific will likely prepare for expressions of interest from various companies globally regarding licensing opportunities.
An independent valuation of the Remote Entry System patent has estimated the patent value to be between US$55.8 million and US$155 million, as well as forecasts its potential licensing revenue to reach between US$81.1 million and US$313 million.
One of the main advantages of Microlatch’s patent portfolio is that all of the patents have been registered for many years since 2003 without any challenges.
Charter Pacific said it intends to grow each family of patents to enclose new advances in technology in growing markets and benefit from the importance of performing secure data transfer on mobile devices across multiple platforms.