Acquires US Patent for Unique Biometric Identity Verification
Sydney, July 11, 2016 AEST (ABN Newswire) - Invigor Group Limited (
ASX:IVO) ("Invigor") advises that it has acquired the US Patent together with associated filings to the technology relating to unique verification services developed by the My Verified ID group ("MVID Group").
The cost of acquiring the patent is $600,000. The cost has been offset against debt amounts owed to Invigor by the MVID Group.
Invigor has previously announced that it has signed a binding term sheet with IVS Holdings Limited to dispose of its interest in the MVID group for $2.2 million. Invigor believes that acquiring the rights to the US Patent will assist in maximising the realisation value of its investment by putting the patent up for sale and potentially achieving more for its interest in the US Patent and the sale of its interest in the MVID Group combined.
Additional upside payments may become payable to MVID Group depending upon the amount realised from an eventual disposal of the US Patent.
Formal documentation to transfer the US Patent is being prepared.
About Invigor Group Ltd
Invigor Group (ASX:IVO) uses its complementary suite of big data products to source, aggregate, analyse and publish content for the benefit of businesses and consumers.
Today its interconnected data sets enable enterprise clients including retailers, brands, shopping centres and government bodies to identify and better understand competitors, consumers, markets and demographics while providing the consumer with the best value-for-money.
Using its current products and a pipeline of additional offerings Invigor will have the ability to provide an end-to-end solution spanning sales, product management, business intelligence, marketing, advertising, content creation and distribution, while monetising each step of the process.
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