Avistar (AVSR) Subsidiary in License Agreement with Sony (SNE)

July 17, 2006 4:18 PM EDT
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Avistar Communications Corp. (NASDAQ: AVSR) and its wholly-owned subsidiary, Collaboration Properties, Inc. (CPI), announced that CPI has entered into an agreement to license CPI's extensive patent portfolio on a non-exclusive, worldwide basis to Sony Corporation (NYSE: SNE) and its subsidiaries, the multinational manufacturer of audio, video, and communication and information technology products for the consumer and professional markets.

Under the license agreement, CPI granted Sony a license according to its standard terms and conditions for the field of videoconferencing. The license covers Sony's video conference apparatus as well as other products including video-enabled personal computer products and Sony Computer Entertainment's PlayStation products. Specific financial terms were not disclosed.

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