Hanover Portfolio Acquisitions has signed a Letter of Intent to acquire 100 percent of The Aviva Companies Corporation. The Aviva Companies is a Texas-based company focused on the transfer and commercialization of intellectual property developed primarily in Israel.
Hanover Portfolio Acquisitions (OTCQB: HVPA), an intellectual property investment and monetization firm, announced today it has signed a Letter of Intent to acquire 100% of The Aviva Companies Corporation. The Aviva Companies is a Texas-based company focused on the transfer and commercialization of intellectual property developed primarily in Israel.
Having dedicated the past several years to establishing and cultivating its many relationships within the Information Technology (IT) sector in the State of Israel, The Aviva Companies is now working with various high-ranking Israeli academics on identifying impactful technologies to commercialize and bring to market.
Israeli technology transfer organizations are renowned universities and research institutions. Considerable resources are allocated in Israel towards research and development, resulting in cutting-edge technologies licensed for commercial use in other countries. As reported by Luzzatto & Luzzatto, one of the largest patent law firms in Israel, Israel ranks in the top 20 countries globally in patent registration according to a United Nations report, with a majority of its patent being in the biotechnology, pharmaceuticals, telecommunications, and semiconductors space.
“Israel has gained a reputation of being a leading source of disruptive IP. The Aviva Companies have identified a portfolio of IP from Israeli institutions, universities, and their technology transfer companies that could add significant value to Hanover. We look forward to advancing this Letter of Intent towards an acquisition, which we believe will add value to Hanover by accelerating the monetization of The Aviva Companies’ IP portfolio,” stated Hanover Chairman and CEO, Alan Collier.
“We at The Aviva Companies are very excited to be working with the Hanover Portfolio Acquisitions team. We believe our collective capacities are complementary and our strategic goals are aligned as we develop and commercialize disruptive IP technologies,” stated Josef Garcia, President and CEO of The Aviva Companies.
Jacob Cohen, The Aviva Companies’ CFO, added, “We are very excited about this synergistic opportunity to work alongside Hanover in identifying and developing these technologies that will ultimately provide value for Hanover’s shareholders.”
About Hanover Portfolio Acquisitions
Hanover Portfolio Acquisitions is an intellectual property investment and monetization company focused on creating shareholder value through joint ventures, licensing and direct investments in innovative technologies. The Company specializes in healthcare, energy, consumer electronics, and internet/mobile related technologies.
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