NEW YORK, NY / ACCESSWIRE / July 29, 2020 / Network‑1 Technologies, Inc. (NYSE American:NTIP), a company engaged in developing, licensing, and protecting intellectual property, announced today that it has agreed to settle its litigation against Dell, Inc. ('Dell') pending in the District Court, 241^st Judicial District Smith County, Texas. The litigation relates to a dispute regarding a Settlement and License Agreement, dated August 15, 2016, with respect to royalty payments relating to licensing Network-1's Remote Power Patent. Under the terms of the settlement, Dell will pay $4,150,000 to Network-1 in full settlement of the litigation.

ABOUT NETWORK-1 TECHNOLOGIES, INC.

Network-1 Technologies, Inc. is engaged in the development, licensing and protection of its intellectual property and proprietary technologies. Network-1 works with inventors and patent owners to assist in the development and monetization of their patented technologies. Network-1 currently owns eighty-four (84) patents covering various telecommunications and data networking technologies as well as technologies relating to document stream operating systems and the identification of media content. Network-1's current strategy includes continuing to pursue licensing opportunities for its Remote Power Patent and its efforts to monetize three patent portfolios (the Cox, Mirror Worlds and M2M/IoT Patent Portfolios). Network-1's strategy is to focus on acquiring and investing in high quality patents which management believes have the potential to generate significant licensing opportunities as Network-1 has achieved with respect to its Remote Power Patent and Mirror Worlds Patent Portfolio. Network-1's Remote Power Patent has generated licensing revenue in excess of $147,000,000 from May 2007 through March 31, 2020. Network-1 has achieved licensing and other revenue of $47,150,000 through March 31, 2020 with respect to its Mirror Worlds Patent Portfolio.

CONTACT:

Corey M. Horowitz, Chairman and CEO
Network-1 Technologies, Inc.
(212) 829-5770

SOURCE: Network-1 Technologies, Inc.