TrueContext Completes Sale Of Non-Core Patents

BY: 

Dave Forde
May 8, 2013

TrueContextIn an effort to trim their un-used assets, Ottawa-based TrueContext Mobile Solutions Corporation has entered into an agreement to sell certain domestic and international non-core patents in return for one-time net proceeds of approximately US$570,000.

“TrueContext’s foundation is based on innovation and we have a powerful and proprietary patent portfolio. We have chosen to monetize a subset of non-core patents related to content distribution and management for mobile devices,” said Alvaro Pombo, TrueContext President and Chief Executive Officer. “We have improved our financial position and liquidity to continue focusing on growing our ProntoForms business. At the same time, we do not expect any impact on our day-to-day operations because we retain the ability to incorporate the sold technology into our current and future products.”

The purchaser of the patents is not related to TrueContext and will not be identified due to confidentiality restrictions.

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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