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ICO Global Communications Joins Forces with Leading Intellectual Property Firm Ovidian Group

^{Published on 2011-06-20 05:15:23 - Market Wire}
 

KIRKLAND, Wash. & BERKELEY, Calif.--([ BUSINESS WIRE ])--ICO Global Communications (NASDAQ: ICOG) (aICOa) and Ovidian Group announced today that Ovidian has been acquired by ICO. Ovidian is an intellectual property (IP) business solutions firm that works with leading technology companies throughout North America, Asia and Europe. Terms of the transaction were not disclosed. Joseph Siino, principal founder and CEO of Ovidian, will continue in his current role and also has been appointed chief IP officer for ICO. Ovidian will remain headquartered in Berkeley, California and will operate as a wholly-owned subsidiary of Pendrell Technologies, a subsidiary of Pendrell Corporation. ICO announced on June 17 that it is changing its name to Pendrell Corporation.

"The most important challenges in the IP world today require an integration of IP strategy, business strategy and financial resources. The Ovidian-Pendrell team puts it all together in one organization."

aThe combination of Ovidian and Pendrell represents a powerful opportunity to leverage the innovative IP solutions and industry leadership for which Ovidian is well known, and the financial resources and transactional, strategic and industry experience of the Pendrell team,a said Ben Wolff, chief executive officer of ICO.

aJoining with Pendrell builds on the momentum we have established as the trusted partner for innovative IP solutions,a commented Joe Siino. aWith a strong balance sheet and deep intellectual capital, we are well-positioned to establish a new agold standarda™ in IP for the worlda™s leading technology companies.a

Horacio Gutierrez, head of Microsofta™s worldwide intellectual property and licensing group, said "the combination of Ovidian and Pendrell creates a company uniquely situated to serve as a trusted partner for leading technology companies."

Tim Crean, chief intellectual property officer of SAP AG commented, "The most important challenges in the IP world today require an integration of IP strategy, business strategy and financial resources. The Ovidian-Pendrell team puts it all together in one organization."

The Pendrell and Ovidian teams have decades of experience in driving innovation and growth through strategic IP partnerships. The Companya™s leadership team includes inventors on more than 150 patents, and has been engaged in the valuation and acquisition of thousands of patents across North America, Asia and Europe. Ovidian is a leading partner in providing corporate IP and litigation insights to Fortune 500 companies and technology firms worldwide.

About ICO Global Communications

ICO is headquartered in Kirkland, Washington. The company is changing its name to Pendrell Corporation. For more information, visit [ www.ico.com ].