ROCHESTER, N.Y., April 16, 2015 /PRNewswire/ — Vuzix® Corporation (NASDAQ: VUZI) (“Vuzix” or, the “Company”), a leading supplier of video eyewear and smart glasses products in the consumer, commercial and entertainment markets, today announced that it has acquired for an undisclosed cash payment two patents, one covering gesture controls of 3D virtual objects, including within augmented reality applications and the other ambient light management in see through wearable displays; US Patent number 6243054 and US Patent number 6559813 respectively. These patents add to the 50 patent and patents pending already part of Vuzix’ patent portfolio and further strengthens the Company’s Intellectual Property (IP) position in the wearable technology space. Vuzix places a strong emphasis on IP, and as a result has developed a relevant and constantly expanding portfolio of owned and licensed IP.
Vuzix CEO and President Paul J. Travers said, “As wearable tech, and more specifically the smart glasses market, continues to develop we expect more and more value placed on relevant IP. Gesture control with augmented reality applications and managing the ambient light, especially in optical see through glasses, is critical in the operation of wearable display technology and especially augmented reality in smart glasses. Vuzix acquired these additional patents to secure a stronger IP position for its current and soon to be released products including, but not limited to, smart glasses based on our proprietary waveguide technology. This is just one element of our long-term approach to staying ahead of the curve in this dynamic sector.”
About Vuzix Corporation
Vuzix is a leading supplier of Video Eyewear and Smart Glasses products in the consumer, commercial and entertainment markets.
The Company’s products include personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality. Vuzix holds 41 patents and 10 additional patents pending and numerous IP licenses in the Video Eyewear field. The Company has won Consumer Electronics Show (or CES) awards for innovation for the years 2005 to 2014 and several wireless technology innovation awards among others. Founded in 1997, Vuzix is a public company (NASDAQ: VUZI) with offices in Rochester, NY, Oxford, UK and Tokyo, Japan.
Forward-Looking Statements Disclaimer
Certain statements contained in this news release are “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. Forward looking statements contained in this release relate to the value and usefulness of the acquired patents, future products including waveguide based smart glasses that utilize the IP, the value of current IP portfolio and future additions, among other things, and the Company’s leadership in the Video Eyewear and AR display industry. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and MD&A filed with the United States Securities and Exchange Commission and applicable Canadian securities regulators (copies of which may be obtained at www.sedar.com or www.sec.gov ). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law.