WordLogic Corp has received a financial commitment to purchase exclusive rights to its legal enterprise solutions for North America. The licensing will be to an unidentified U.S. private equity firm based in Virigina, the company said. The terms include a $1 million payment, 10 percent royalty on all sales and 15 percent annual software maintenance fee on all sales. Based in Vancouver, WordLogic develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input.
WordLogic the Sale of Exclusive Rights to Legal Enterprise Solutions to Private Equity Group
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 12, 2014) – WordLogic (OTCQB:WLGC), the predictive intelligence technology company that creates patented solutions for mobiles, tablets and desktops has received a non-refundable financial commitment to purchase exclusive rights to their legal enterprise solutions for North America.
WordLogic is renowned for its award-wining predictive iKnowU® keyboard, enriched with the innovative REACH™ technology. It supersedes the need to exit core applications so that users will no longer have to navigate through numerous 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. Available on both Android and soon on iOS 8, REACH™ creates a unique revenue stream for its partners.
The licensing will be to a US-Virginia based private equity group. The terms of the transaction include:
Exclusive Licensing Rights for North America
$1 Million one-time payment
10% royalty on all sales
15% annual software maintenance fee on all sales
WordLogic’s obligation will be to provide a commercial product providing small to medium law firms a better user-experience creating and researching legal documents by utilizing their innovative iKnowU® and REACH™ technology.
For more information, see the descriptive video of the patent-pending REACH™ advertising search engine and Wordlogic technologies at www.wordlogic.com.
About WordLogic Corporation
WordLogic Corporation develops, markets, licenses and sells advanced predictive platform software designed to accelerate information discovery and text input. The Company’s innovations operate on a wide variety of devices including smartphones, PCs, cell phones, Smart TV, media players, automotive navigational systems, infotainment and game consoles. The Company’s intellectual property portfolio includes U.S. and European patents and numerous pending patent applications.For more information about WordLogic Corporation, visit wordlogic.com. To send a message via Twitter, contact us at twitter.com/wordlogiccorp or visit us on Facebook at facebook.com/wordlogiccorp. WordLogic headquarters are located at 1130 West Pender Street, Suite 230, Vancouver, BC, Canada.
Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements and are subject to risks and uncertainties. See WordLogic’s filings with the US Securities and Exchange Commission which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
+1.866.WORDLOGIC (main office)
Photo courtesy of Shutterstock